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Tesla Daily: Tesla News & Analysis
New Info From 10-Q, Highland Deliveries, Giga Nevada, Cybertruck, Theft, UAW (10.23.23)
Oct 24, 2023
Tesla's 10-Q filing reveals details from Q3; Model 3 deliveries start in Highland; Giga Nevada gets an update; Musk discusses advertising; Tesla vehicles have low theft rates; new Cybertruck videos emerge; Texas launches EV credit program; internal images of V4 Supercharger surface; governor of Neuvo Leon plans presidential campaign; UAW expands strikes on Stellantis.
21:35
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Quick takeaways
- Tesla expects to recognize $815 million of deferred revenue from automotive sales, with the majority likely related to Full Self-Driving (FSD)
- Tesla's vehicles, such as the Model 3 and Model Y, have exhibited low theft rates compared to other models, credited to effective security features like Sentry Mode and GPS tracking
Deep dives
Tesla's Quarterly Results and Deferred Revenue
Tesla's 10Q quarterly filing with the SEC reveals some key takeaways. Notably, they recognized $360 million of revenue from deferred revenue balance in automotive sales, with the majority likely related to Full Self-Driving (FSD). They also expect to recognize $815 million of this balance over the next 12 months. In energy and storage, the deferred revenue stood at $1.05 billion, with a significant portion recognized this quarter. Additionally, Tesla reported a plan to exceed $9 billion in capital expenditures this year and revert back to $7-9 billion in the following two fiscal years.
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