Tesla margin recovers while sales outlook cheer investors

Q3 2024 brought to an end six successive quarters of y-o-y decline in Tesla's group operating margin as it rose to 10.8%, up 3.2 points year-on-year and 4.5 points sequentially.

Group revenue rose by 7.8% to US$25.2bn as a 1.1% rise in automotive revenue (excluding regulatory credits) to US$19.3bn was boosted by a 52% increase in Energy Generation and Storage revenue to US$2.4bn and a 29% rise in Services & Other revenue to US$2.8bn.