Tesla said 75% of its new North American deliveries in the third quarter came with an FSD subscription, up from 55% in the second quarter, and active FSD subscriptions rose 67% to 1.74 million. Tesla has not disclosed how many subscribers pay, since the first month is free. When an RBC analyst asked whether the paid rate was closer to 30% to 40%, CFO Vaibhav Taneja did not give a clear answer. The article also notes that Tesla's overall gross margin fell from 25.6% in fiscal 2022 to 18% in fiscal 2025, while the stock trades at 185x forward earnings. It argues the paid attach rate is the key figure to watch, as paid FSD revenue remains small relative to Tesla's total sales.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Musk: People Are “Buying FSD With a Car Attached.” There’s Only One Problem.
Read the original on Yahoo Finance ↗
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TSLAElon Muskelectric vehiclesvaluation
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Related tickers and likely impact
TSLA
• NeutralTesla, Inc.
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Consumer Discretionary |
| Industry | Automobile Manufacturers |
| Market cap | $1.4T |
| Close on 10/21/2026 | 386.55 |
| Change that session | +3.44% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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