Tesla Q3 deliveries slightly below expectations, but Model 3/Y is unexpectedly hot! Can the Robotaxi initiative set off another craze?

According to the financial news app Zhitong Finance, Tesla (TSLA.US) delivered 462,890 vehicles in the third quarter, slightly below the market's expectation of 463,897 vehicles. This was mainly due to incentive measures and low-cost financing failing to effectively boost demand for its older models. However, the delivery of Model 3/Y reached 439,975 vehicles, exceeding market expectations. Tesla's stock price fell by 4.25% in early trading, but still rose by over 20% in the past six weeks, mainly driven by expectations for the upcoming Robotaxi event. Meanwhile, the stock prices of Lucid Group (LCID.US) and Rivian Automotive (RIVN.US) also experienced fluctuations. In the third quarter, Tesla produced 469,796 vehicles, with 3% of the total delivery volume affected by operating lease accounting. The delivery volume of Model 3/Y this quarter was 439,975 vehicles, surpassing the market's expected 435,920 vehicles, while the delivery volume of other models was 22,915 vehicles, lower than the market's expected 26,315 vehicles. Compared to the same period last year, Tesla's delivery volume has increased. In the third quarter of last year, Tesla delivered 435,059 vehicles, and in the second quarter, it delivered 443,956 vehicles. Tesla's historical highest delivery record was 484,507 vehicles in the fourth quarter of 2023. Looking ahead, Tesla is expected to hold an event called "We, Robot" on October 10, where they may showcase the Cybercab prototype, a two-door sedan with a front end similar to the Model 3. In addition, Elon Musk and his team may provide more information on the size of the robotaxi market, the timeline for achieving unsupervised FSD, the potential for incremental AI-driven revenue, and other applications of the company's robot technology. Despite Tesla's slightly lower-than-expected delivery volume in the third quarter, the delivery volume of Model 3/Y exceeded expectations, demonstrating strong demand for the company's key models. The upcoming Robotaxi event and the outlook for the robotaxi market may provide more clues for Tesla's future development