#earningsseason #BinancePick
Behind the margin debate, Tesla's Q3 update contained a quieter number: how many people now pay for FSD.
What the numbers say:
Active FSD (Supervised) subscriptions reached 1.74 million, up 67% from 1.04 million a year ago.
More than 75% of new North American deliveries included an FSD subscription, about 20 points higher than in Q2.
FSD is now approved in nine EU countries, and more than 100,000 European customers have driven over 160 million kilometers with it.
Robotaxi unsupervised miles grew eightfold in the quarter to nearly 2 million, with Dallas expected next month.
The timeline moved the other way: unsupervised FSD in customer cars is now guided to Q2 2027, and initially only inside Robotaxi zones.
the paid side is working. Subscriptions give Tesla recurring revenue and a reason to keep software at the center of each sale. The fully autonomous side still has a small base, since miles grew eightfold from a low starting point and the customer timeline slipped again. The valuation story depends on the second part, while the financial story depends on the first
.
What to watch: whether the attach rate keeps rising, how many subscribers stay after the first months, and whether the Q2 2027 target holds.
which matters more for $TSLA, the 1.74 million paying subscribers or the unsupervised timeline? Pick one and share your reasoning in the comments.
$TSLAB
Behind the margin debate, Tesla's Q3 update contained a quieter number: how many people now pay for FSD.
What the numbers say:
Active FSD (Supervised) subscriptions reached 1.74 million, up 67% from 1.04 million a year ago.
More than 75% of new North American deliveries included an FSD subscription, about 20 points higher than in Q2.
FSD is now approved in nine EU countries, and more than 100,000 European customers have driven over 160 million kilometers with it.
Robotaxi unsupervised miles grew eightfold in the quarter to nearly 2 million, with Dallas expected next month.
The timeline moved the other way: unsupervised FSD in customer cars is now guided to Q2 2027, and initially only inside Robotaxi zones.
the paid side is working. Subscriptions give Tesla recurring revenue and a reason to keep software at the center of each sale. The fully autonomous side still has a small base, since miles grew eightfold from a low starting point and the customer timeline slipped again. The valuation story depends on the second part, while the financial story depends on the first
.
What to watch: whether the attach rate keeps rising, how many subscribers stay after the first months, and whether the Q2 2027 target holds.
which matters more for $TSLA, the 1.74 million paying subscribers or the unsupervised timeline? Pick one and share your reasoning in the comments.
$TSLAB
