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TSLA & the numbers

TSLA & the numbers

Every story is dated and sourced, with nothing we can’t link to. Read the summary in ten seconds or the full analysis in five minutes.

Earnings//1 min

Earnings preview: the five numbers that will decide October 21

After a 1.4% operating margin and negative free cash flow last quarter, Tesla's Q3 report is about profitability, not volume. Here's what to watch and why.

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China//1 min

Shanghai-built Tesla sales rise 5% in September, an 11th straight monthly gain

Giga Shanghai sold 95,366 cars including exports, extending its year-over-year growth streak as European demand offsets a tough Chinese retail market.

Deliveries//2 min

Q3 2026: Cars beat, storage slips, and the real test is October 21

Tesla delivered 486,532 vehicles, about 24,600 more than the consensus it compiles itself. Storage deployments missed, and the stock now heads into earnings with margins in focus.

Balance sheet//1 min

Tesla lines up $30 billion of credit for a capex supercycle

New facilities with Citi and Wells Fargo replace an undrawn $5B line. Tesla reportedly doesn't plan to draw in 2026, but with negative free cash flow in Q2 the cushion matters.