Table of ContentsCost of Revenues and Gross MarginThree Months EndedSeptember 30, ChangeNine Months EndedSeptember 30, Change(Dollars in millions)2024 2023 $ % 2024 2023 $ %Cost of revenuesAutomotive sales$ 15,743 $ 15,656 $ 87 1 %$ 45,602 $ 47,919 $ (2,317) (5)%Automotive leasing247 301 (54)(18)%761 972 (211)(22)%Total automotive cost ofrevenues 15,990 15,957 33 0 % 46,363 48,891 (2,528) (5)%Services and other2,544 2,037 507 25 %7,192 5,723 1,469 26 %Total automotive & services andother segment cost of revenues 18,534 17,994 540 3 % 53,555 54,614 (1,059) (2)%Energy generation and storagesegment1,651 1,178 473 40 %5,157 3,770 1,387 37 %Total cost of revenues$ 20,185 $ 19,172 $ 1,013 5 %$ 58,712 $ 58,384 $ 328 1 %Gross profit total automotive $ 4,026 $ 3,668 $ 10,909 $ 11,965 Gross margin total automotive 20.1 % 18.7 % 19.0 % 19.7 %Gross profit total automotive &services and other segment $ 4,272 $ 3,797 $ 11,403 $ 12,395 Gross margin total automotive &services and other segment 18.7 % 17.4 % 17.6 % 18.5 %Gross profit energy generation andstorage segment $ 725 $ 381 $ 1,868 $ 827 Gross margin energy generation andstorage segment 30.5 % 24.4 % 26.6 % 18.0 %Total gross profit $ 4,997 $ 4,178 $ 13,271 $ 13,222 Total gross margin 19.8 % 17.9 % 18.4 % 18.5 %Automotive & Services and Other SegmentCost of automotive sales revenue increased $87 million, or 1%, in the three months ended September 30, 2024 ascompared to the three months ended September 30, 2023 due to the increases in deliveries year over year as discussed above,partially offset by a decrease in the average combined cost per unit of our vehicles primarily from lower raw material costs,freight and duties as well as mix.Cost of automotive sales revenue decreased $2.32 billion, or 5%, in the nine months ended September 30, 2024 ascompared to the nine months ended September 30, 2023 due to a decrease in the average combined cost per unit of our vehiclesprimarily from lower raw material costs, freight and duties as well as mix, in addition to the volume changes in deliveries yearover year as discussed above. The decreases were partially offset by higher costs for Cybertruck and the updated Model 3 at ourFremont factory as a result of the temporary under-utilization of manufacturing capacity as production ramps.Cost of automotive leasing revenue decreased $54 million, or 18%, in the three months ended September 30, 2024 ascompared to the three months ended September 30, 2023. Cost of automotive leasing revenue decreased $211 million, or 22%,in the nine months ended September 30, 2024 as compared to the nine months ended September 30, 2023. The decreases wereprimarily due to a decrease in direct sales-type leasing cost of revenue driven by lower deliveries and a decrease in our directoperating lease cost of revenue driven by lower lease payoffs compared to the prior periods.Cost of services and other revenue increased $507 million, or 25%, in the three months ended September 30, 2024 ascompared to the three months ended September 30, 2023. Cost of services and other revenue increased $1.47 billion, or 26%, inthe nine months ended September 30, 2024 as compared to the nine months ended September 30, 2023. The increases wereprimarily due to volume increases in used vehicle sales, insurance services, paid Supercharging, non-warranty maintenanceservices and collision and part sales.30
tsla-20240930https://www.sec.gov/Archives/edgar/data/1318605/00016282802404...
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