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After slogging through years of and , the Tesla Cybertruck can finally be seen on public roads this holiday season, the company announced in . Deliveries of the long-awaited luxury EV SUV will begin to select customers starting November 30, before the vehicle enters at its Texas Gigafactory.
For its existing model lines, Tesla's production and deliveries are both down this quarter, or roughly 30,000 units compared to Q2, but still significantly higher year over year, up ~100,000 units, over 2022. The EV automaker has slashed the prices on its vehicles repeatedly this year, , then again in September ( the MSRP at the time) and .
The Model X, for example, began 2023 retailing for $120,990 — it currently lists for $79,990. The models S (now $74,990), Y ($52,490, down 24 percent from January) and 3 ($38,990, down 17 percent) have all seen similar price drops. In all, Tesla reports its cost of goods sold per vehicle decreased to ~$37,500 in Q3.
Musk had previously explained his willingness to drop prices and endure reduced margins if it translates to increased sales volume. “I think it does make sense to sacrifice margins in favor of making more vehicles,” he in July.
“A sequential decline in volumes was caused by planned downtimes for factory upgrades, as discussed on the most recent earnings call. Our 2023 volume target of around 1.8 million vehicles remains unchanged,” Tesla in an October press statement. The company delivered some 435,059 vehicles globally in Q3.
The company continues to increase its investments in AI development as well, having "more than doubled" the amount of processing power it dedicates to training its vehicular and Optimus robot AI systems, compared to Q2. The Optimus itself is reportedly receiving hardware upgrades and is being trained via AI, rather than "hard-coded" software.
This is a developing story. Please check back for updates.
This article originally appeared on Engadget at
Console Bang News!
For its existing model lines, Tesla's production and deliveries are both down this quarter, or roughly 30,000 units compared to Q2, but still significantly higher year over year, up ~100,000 units, over 2022. The EV automaker has slashed the prices on its vehicles repeatedly this year, , then again in September ( the MSRP at the time) and .
The Model X, for example, began 2023 retailing for $120,990 — it currently lists for $79,990. The models S (now $74,990), Y ($52,490, down 24 percent from January) and 3 ($38,990, down 17 percent) have all seen similar price drops. In all, Tesla reports its cost of goods sold per vehicle decreased to ~$37,500 in Q3.
Musk had previously explained his willingness to drop prices and endure reduced margins if it translates to increased sales volume. “I think it does make sense to sacrifice margins in favor of making more vehicles,” he in July.
“A sequential decline in volumes was caused by planned downtimes for factory upgrades, as discussed on the most recent earnings call. Our 2023 volume target of around 1.8 million vehicles remains unchanged,” Tesla in an October press statement. The company delivered some 435,059 vehicles globally in Q3.
The company continues to increase its investments in AI development as well, having "more than doubled" the amount of processing power it dedicates to training its vehicular and Optimus robot AI systems, compared to Q2. The Optimus itself is reportedly receiving hardware upgrades and is being trained via AI, rather than "hard-coded" software.
This is a developing story. Please check back for updates.
This article originally appeared on Engadget at
Console Bang News!