• News

Tesla (TSLA) Q3 2024 automotive revenues grew only 2% year-over-year

Tesla only saw an incremental increase in its vehicle-related revenue in Q3 2024

Donovan Erskine

October 23, 2024 2:35 PM

Tesla

1

Tesla’s Q3 2024 earnings report provides a comprehensive rundown of the company’s latest financial quarter. This includes updated figures for the EV company’s automotive revenue, which only grew two percent in Q3.

The fourth page of Tesla’s Q3 2024 earnings report provides updated numbers for the company’s automotive revenue. Q3’s automotive revenue was $20.016 billion, which represents a narrow 2 percent increase from the $19.6 billion in revenue in Q3 2023.

Despite the slight bump in automotive revenue, Tesla enjoyed a large jump in its stock price this afternoon, thanks to a beat on EPS expectations. It’ll be interesting to monitor Tesla’s automotive revenue in 2025, given the company plans to start rolling out its affordable line of vehicles then.

Donovan Erskine

News Editor

Donovan is a young journalist from Maryland, who likes to game. His oldest gaming memory is playing Pajama Sam on his mom's desktop during weekends. Pokémon Emerald, Halo 2, and the original Star Wars Battlefront 2 were some of the most influential titles in awakening his love for video games. After interning for Shacknews throughout college, Donovan graduated from Bowie State University in 2020 with a major in broadcast journalism and joined the team full-time. He is a huge Scream nerd and film fanatic that will talk with you about movies and games all day. You can follow him on twitter @Donimals_