Tesla Missed Profit Targets In Q3, But A SpaceX Merger Will Surely Help That
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Good morning! It's Friday, October 23, 2026, and this is The Morning Shift, your daily roundup of the top automotive headlines from around the world, in one place. This is where you'll find the most important stories that are shaping the way Americans drive and get around. In this morning's edition, Tesla's third quarter was one to forget when it comes to profits, Volvo is cutting 2,500 jobs in a cost-saving effort, BYDs are banned from a U.S. air base in Japan, and Lexus is killing a plug-in hybrid. If you'd like a recap of the latest auto news sent to your inbox each weekday, you can sign up for Jalopnik's free Morning Shift newsletter here. Tesla had a strange third quarter, all things considered. The Austin, Texas-based automaker reported better-than-expected Q3 results, but automotive revenue was markedly down. It caps off a brutal run for Tesla's stock, which is down nearly 15% year-to-date. Clearly, in an effort to pump those numbers up, CEO Elon Musk floated the idea of a merger between Tesla and his other company, SpaceX - calling it a "good idea" during that company's earnings call the day prior. From CNBC: "I feel like I'm tap dancing through a minefield," Musk said on the call, responding to a question about a potential merger. Musk addressed the matter in his opening comments on the Tesla call, but didn't provide any additional information. "I think I said...
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Ashok Elluswamy, Tesla's vice president of Autopilot, said on the earnings call that the company plans to give some customer cars access to its forthcoming FSD (Unsupervised) systems around the second quarter of next year.
