Tesla(TSLA) - 2024 Q3 - Quarterly Report

Vehicle Production and Deliveries - Company produced approximately 1,314,000 consumer vehicles and delivered approximately 1,294,000 consumer vehicles through Q3 2024[101] - Automotive sales revenue increased $249 million, or 1$25.18 billion, a $1.83 billion increase compared to the same period in 2023[102] - Net income attributable to common stockholders for Q3 2024 was$2.17 billion, a $314 million increase compared to the same period in 2023[102] - Gross margin for total automotive increased from 18.7$147 million (52%) in Q3 2024 and $394 million (54$307 million in Q3 2024 and $459 million in the nine months ended September 30, 2024[137] - Provision for income taxes increased by$434 million (260%) in Q3 2024 and $652 million (87$33.65 billion in cash and cash equivalents and investments, a $4.55 billion increase from the end of 2023[103] - Cash and cash equivalents and short-term investments totaled$18.11 billion and $15.54 billion, respectively, as of September 30, 2024[147] - Net cash provided by operating activities increased by$1.22 billion to $10.11 billion in the nine months ended September 30, 2024[149] Capital Expenditures - Capital expenditures amounted to$8.56 billion during the nine months ended September 30, 2024, a $1.96 billion increase compared to the same period in 2023[103] - Company expects capital expenditures to exceed$11.00 billion in 2024 and be between $8.00 to$10.00 billion in each of the following two fiscal years[112] - Capital expenditures expected to exceed $11.00 billion in 2024 and be between$8.00 to $10.00 billion in the following two fiscal years[144] - Capital expenditures for the nine months ended September 30, 2024, were$8.56 billion, primarily for AI-related projects and global factory expansion[150] Energy Storage and Generation - Company deployed 20.41 GWh of energy storage products through Q3 2024[101] - Energy generation and storage segment revenue increased $817 million, or 52$817 million (52%) in Q3 2024 compared to Q3 2023, primarily due to higher Megapack and Powerwall deployments[122] Automotive Regulatory Credits - Automotive regulatory credits revenue increased $185 million, or 33$624 million (29%) in Q3 2024 compared to Q3 2023, driven by growth in non-warranty maintenance, collision, used vehicle, paid Supercharging, insurance services, and part sales[121] Cost Management - Cost of automotive sales revenue decreased by $2.32 billion (5$122 million (11%) in Q3 2024, primarily due to reduced vehicle program costs, partially offset by increased AI-related expenses[132] - Selling, general, and administrative expenses decreased by $67 million (5$583 million of employee termination expenses[135] Indebtedness and Foreign Exchange - Outstanding indebtedness as of September 30, 2024, totaled $7.42 billion, with$2.12 billion current[145] - Potential adverse changes in foreign currency exchange rates of 10% could result in a gain or loss of $1.05 billion at September 30, 2024[154]