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TSLAearningsElon Muskself-driving cars
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Related tickers and likely impact
TSLA
• NeutralTesla, Inc.
Relevance: high
| Market | US stocks |
|---|---|
| Sector | Consumer Discretionary |
| Industry | Automobile Manufacturers |
| Market cap | $1.4T |
| Close on 10/21/2026 | 386.47 |
| Change that session | +3.41% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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On Wednesday's Q3 earnings call, Elon Musk said the vast majority of Cybercabs will be owned by Tesla and operated as a transport-as-a-service, rather than sold to consumers. VP of Vehicle Engineering Lars Moravy said Tesla is trying to get Cybercabs to customers by the end of 2026, while AI lead Ashok Elluswamy suspected the first customer vehicles could join the Robotaxi fleet around Q2 next year. Current Cybercab units built in Texas are all going into Tesla's internal fleet. Tesla reported revenue of $28.05 billion, above the $27.88 billion consensus, and EPS of 48 cents against 43 cents expected, although automotive revenue fell 3% year-on-year to $20.56 billion. The company also reported 1.74 million active FSD subscriptions, up 67% year-on-year.
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Tesla director Kimbal Musk praised the Cybercab after riding it in Austin, calling it 'amazing to use' and saying it arrived on time, two years after Tesla unveiled the vehicle on Oct. 10, 2024. Tesla began limited public Cybercab rides in Austin on Sept. 3, 2026, and said on Oct. 10 that more than 300 Cybercabs were serving the city, an eightfold increase in 30 days. The Cybercab is a two-seat vehicle with no steering wheel or pedals and now joins Model Y in the Robotaxi fleet, which operates in limited areas of Austin, Dallas, Houston, Miami, Orlando and Tampa. Federal regulators have also opened an inquiry into how Tesla certified the steering-wheel-free vehicle under U.S. safety rules.
- Tesla Robotaxi Fleet in Austin Soars 8x in a Month While Elon Musk Admits TSLA Is Still Working on Not Running Over Cats
Tesla said its Cybercab fleet serving Austin has grown to more than 300 vehicles, an 8x increase in 30 days, and Elon Musk said the service is scaling. Musk acknowledged that poor visibility at night remains a challenge as the service extends its operating window from 10 p.m. to 11 p.m., and that the main goal is avoiding running over pets such as kittens. Unlike Waymo and WeRide, which use LiDAR alongside cameras, Tesla relies on a vision-only approach. In Europe, Tesla dropped the “Full Self-Driving (FSD) Supervised” name for “Tesla Assisted Driving” after German authorities said the name could mislead customers, and Musk praised German Transport Minister Steffen Bilger's comments urging other European countries to approve FSD.
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Tesla said vehicle demand exceeded production in the third quarter of 2026, with more than 480,000 deliveries for a second straight quarter and its highest backlog in four years. Paid FSD customers passed 1.7 million globally, with subscriptions making up 50% for the first time, and automotive gross margin excluding regulatory credits rose to 18.1%. Energy storage deployments reached 13.7 GWh and energy gross margin hit 33.1%, mainly due to tariff refunds, while Megapack production for 2027 is nearly sold out. Tesla expects full-year capital expenditure of about $20 billion and ended the quarter with more than $45 billion in cash and investments. It is expanding its Austin Robotaxi fleet, plans to launch Cybercab service in Dallas next month, and is building Optimus production capacity.
- The Tesla Waiting Game: Why TSLA Stock Needs SpaceX, Optimus, and Robotaxis to Break Out
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