Musk says Tesla FSD demand is outpacing production at earnings call

Key Points:

• Tesla CEO Elon Musk reported that demand for Tesla's electric vehicles is significantly exceeding production, driven largely by interest in the company's Full Self-Driving (FSD) technology, with plans to expand the Cybercab service to Dallas next month.
• Tesla posted strong third-quarter results with $28.05 billion in revenue and 486,532 vehicle deliveries, signaling the start of significant growth after years of slower expansion.
• Musk outlined ambitious plans to increase Tesla's manufacturing capacity to produce about 5 million vehicles annually by 2030 and to expand FSD into new international markets, including seeking EU-wide approval.
• The Cybercab service, primarily offered as a transport-as-a-service model, is expected to begin customer deliveries by the end of 2026, with most vehicles remaining in Tesla's fleet rather than being sold individually.
• Tesla raised its capital expenditure guidance to approximately $20 billion for 2026, ending the quarter with over $1.5 billion in free cash flow and $45 billion in cash and investments; Musk also mentioned the possibility of a Tesla-SpaceX merger under review by special committees.