# Tesla Missed Profit Targets In Q3, But A SpaceX Merger Will Surely Help That

> Tesla's Q3 profits fell 29% as SpaceX merger talks gain momentum.
- Title: Tesla Missed Profit Targets In Q3, But A SpaceX Merger Will…
- Summary: Tesla's Q3 profits fell 29% as SpaceX merger talks gain momentum. Tesla reported lower Q3 profits but plans a SpaceX merger to boost future earnings.
- Keywords: tesla, spacex, profit, merger, volvo, jobs, byd, airbase, lexus, phev, fuel, Missed
- Source: Jalopnik — https://jalopnik.com/2295226/tesla-missed-q3-profits-spacex-merger
- Author: Andy Kalmowitz
- Published: 2026-10-23T14:01:14+00:00
- Read time: 1 min
- Topics: tesla, spacex, q3, profit, merger, volvo, jobs, byd, airbase, lexus, phev, fuel
## Tesla Q3 Results
Tesla reported lower Q3 profits with net income down 29% to $787 million.

> I feel like I'm tap dancing through a minefield
## Tesla's Automotive Revenue
Tesla's core automotive revenue declined 3% year-over-year to $20.56 billion.
## Energy Revenue Drop
Energy revenue fell 16% to $2.88 billion in Q3.
## Services Revenue Growth
Services and other revenues rose 33% to $4.61 billion.
## FSD Subscriptions
Active FSD subscriptions increased 67% to 1.74 million.
## Tesla's Stock Performance
Tesla's stock dropped nearly 15% year-to-date.
## Elon Musk's Merger Plan
Elon Musk proposed a Tesla-SpaceX merger to improve financials.

> I think I said everything that should be said yesterday
## Volvo Job Cuts
Volvo cut 2,500 jobs as part of cost-saving plan.
## Volvo's Cost Savings
Volvo aims to save $504.4 million through job cuts and other measures.
## BYD Banned from Airbase
U.S. banned BYD vehicles from Kadena Air Base in Japan due to security concerns.
## Lexus PHEV Discontinuation
Lexus discontinued PHEV TX550h+ for 2027 model year.
## Fuel Prices Rising
Gas prices rose 2 cents overnight to $4.29 per gallon.
## Tesla's Q3 Sales
Tesla sold 486,532 vehicles in Q3, down 2% from last year.
## Volvo's China Challenges
Volvo reported 50% revenue drop in China due to market decline.
## Key takeaway

Tesla reported lower Q3 profits but plans a SpaceX merger to boost future earnings.