Leading American automaker Tesla disclosed its record-breaking Q2 earnings report today, surpassing Wall Street forecasts with a whopping revenue of $24.9 billion and net income of $2.7 billion.
What’s more interesting is that Tesla also announced at the company’s Q2 earnings call that it will finally adhere to customers’ long-standing requests. CEO Elon Musk officially confirmed that the company will allow customers to transfer their Full Self-Driving system to another Tesla vehicle. However, it will only be applicable once in the third quarter of this year.
One-time FSD “amnesty”
During the Q&A segment of the special event, Tesla Executive Martin Viecha read out the question for the Tesla boss.
“Have you considered allowing FSD transferability as a lever to allow existing customers to upgrade to a new Tesla instead of being locked into an existing car due to the price of FSD?”
Martin Viecha, Tesla Executive
In response, CEO Musk disclosed Tesla’s plan to do so sometime in Q3 2023.
“Yes. This is a question we get asked a lot. So, we’re excited to announce that for Q3, we will be allowing the transfer of FSD. This is a one-time amnesty. So, it needs to be — you need to take advantage of it in Q3, but — or at least place the order in Q3 within reasonable delivery time frames. So yes, I hope this makes people happy. This is a one-time thing.”
Tesla CEO Elon Musk
This move is indeed significant for existing Tesla owners who acquired the FSD Beta for tens of thousands of dollars. Their reluctance to upgrade to a new Tesla model is only natural as they highly consider keeping the $15,000 FSD system.
Finally, they will now be able to transfer it to a new model. However, they must take note of the deadline and take advantage of it while it lasts.
Remarkably, Tesla also proudly announced that FSD’s overall miles driven had topped 300 million miles as of the end of Q2 2023.3.
See Also:
- Tesla FSD Beta saw a 475% YoY growth, 78% since Q3 2022
- Elon Musk says the Tesla FSD Beta V11 will expand over a few weeks before the public release
- Tesla FSD Beta Update v10.69.3 guarantees significant improvements
- Tesla FSD Beta 10.69.3 to be released next week
- Tesla discreetly tests FSD software in Australia, per report
Tesla’s strategy of offering a one-time FSD Beta vehicle transfer could certainly boost the company’s sales when it needs it most. CEO Musk warned Wednesday that there would be a slowdown in the automaker’s production in Q3 primarily due to the planned factory upgrades. Apart from that, Tesla is also at risk of losing a notable portion of its market share due to the growing competition brought on by legacy automakers and startups.
