Tesla CEO Elon Musk has told investors he expects the brand’s electric vehicle (EV) sales to grow significantly in 2025.
Mr Musk was overwhelmingly positive in his address to key shareholders as part of Tesla’s third-quarter 2024 earnings call, attributing 2025 sales growth goals of 20-30 percent to the launch of cheaper passenger models.
“We are still on-track to deliver more affordable models starting in the first half of 2025,” said Mr Musk.
“To take a bit of risk here, I do want to give some rough estimate, I think it’s 20-30 percent vehicle growth next year.”
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He did warn, however, that “force majeure events” – like a major war breaking out or interest rates skyrocketing – could impact this growth.
Tesla has teased the possibility of a US$25,000 (A$37,600) EV since 2020, though in this earnings call he noted, “I think having a regular $25,000 model is pointless.”
That points to these “more affordable” models to sit somewhere above this price point, but below the Model 3 which opens at US$34,990 (~$52,000) in the US once the US$7500 (~$11,000) federal tax credit has been applied.
Model 3
Tesla says its Cybercab will be priced at US$25,000, but it won’t enter volume production until 2026.
Mr Musk was buoyed by Tesla’s recent sales figures – the electric carmaker sold 462,890 vehicles globally in Q3.
“If you look at EV companies worldwide, to the best of my knowledge no EV company is even profitable,” said Mr Musk.
“There’s no EV division of any existing auto company that is profitable.
Cybercab concept
“So it is notable that Tesla is profitable despite a very challenging automotive environment… this quarter is actually a record Q3 for us.”
Tesla has hit a stumbling block in Australia, however.
The manufacturer has recorded six consecutive monthly declines in Australian deliveries, with September deliveries down 48.8 percent on the same month last year.
Every month this year from April onwards, Tesla deliveries have been down double digits on the corresponding month last year.
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