Good morning, TSLAblog.com readers. Aimee Joiner here, cutting through the noise to deliver your daily dose of hard-hitting Tesla facts and figures. Let's dive into the data that's driving the narrative today.

Cybercab Hits Austin Streets, FSD Rentals Go Live

Tesla’s purpose-built, two-seat Cybercab officially commenced commercial Robotaxi service in Austin, Texas, today Basenor. This vehicle, notably lacking a steering wheel, pedals, or side mirrors, operates on an unsupervised version of FSD v15 and a modified Hardware 4 compute platform Basenor. It offers an estimated range of 293 miles from its 47.6 kWh 4680-cell battery pack Basenor. The base fare in Austin is set at $3.25 plus $1.00 per mile Basenor. While today marks the official launch, Cybercab operations quietly began in early September 2026, with public invite-only rides starting on September 4 Basenor. The fleet has seen rapid growth, with Tesla reporting over 300 Cybercabs serving Austin by October 10, an eightfold increase in approximately 30 days Basenor.

Concurrently, Turo launched Tesla rentals with verified Full Self-Driving (Supervised) access for U.S. guests today, October 28, 2026 Tech-Insider. The peer-to-peer car-sharing marketplace confirmed thousands of FSD-enabled Teslas are available Tech-Insider. Turo leverages a direct API integration with Tesla to verify FSD (Supervised) activation, ensuring accuracy beyond host self-reporting Shattered. Eligible hosts are incentivized with a free one-month trial of FSD (Supervised) Shattered. However, a critical point to note is the absence of published safety data confirming FSD makes these rentals inherently safer, with Turo only confirming the software's presence, not its safety impact Tech-Insider.

Tesla's Q3 Profit Dips, Robotaxi Expansion in Focus

Tesla's third-quarter GAAP net income plummeted 43% year-over-year to $787 million, while operating profit fell 56% to $718 million BigGo Finance. The operating margin consequently narrowed to 2.6% from 5.8% a year earlier BigGo Finance. Despite the profit decline, revenue of $28.046 billion slightly surpassed Wall Street expectations, bolstered by record services gross profit BigGo Finance. Automotive revenue, however, decreased 3% to $20.56 billion, and regulatory credit income plunged 73% to $113 million BigGo Finance. Research and development spending surged nearly 70% to $2.761 billion as Tesla invested heavily in AI, Optimus, and AI computing power BigGo Finance.

In other Robotaxi news, Elon Musk confirmed that beach access for Robotaxi services in Miami and Tampa is "coming soon" Drive Tesla Canada. This announcement followed a request from Florida Governor Ron DeSantis Drive Tesla Canada. Tesla also plans to expand its Robotaxi service to Dallas, Texas, in November 2026 VOI.ID. The combined Cybercab and Model Y Robotaxi fleet in Texas has already surpassed 1,000 vehicles, and Houston received a larger Starship-shaped Robotaxi geofence Tesla Oracle.

Market Watch

TSLA stock closed yesterday, Wednesday, October 28, 2026, at $401.39, down 1.49% from the prior day's close [Internal Data]. As markets are currently open, TSLA is trading at $398.38, down 2.23% for the day as of 10:42 AM ET 24/7 Wall St.. The Canadian Depositary Receipts (TSLA:CA) show a "Neutral" near-term rating, "Weak" mid-term, and "Strong" long-term Stock Traders Daily.

Analyst sentiment remains mixed but generally positive. RBC Capital's Tom Narayan reiterated a "Buy" rating with a $480.00 price target The Globe and Mail. Barclays' Dan Levy also issued a "Buy" rating today The Globe and Mail. Evercore ISI, however, maintained a "Hold" rating The Globe and Mail. 24/7 Wall St. gives TSLA a "HOLD" with a 12-month price target of $424.07, representing 4.1% upside by October 2027 24/7 Wall St.. The street consensus from 44 analysts is $409.27 24/7 Wall St.. ARK Invest's Tasha Keeney reiterated a long-term base-case price target of $4,400 per share by 2031, heavily weighting robotaxis in their valuation model 24/7 Wall St..

Institutional investors continue to adjust their positions. Asset Management One Co. Ltd. increased its holdings by 1.5% in Q3, now owning 1,378,565 shares valued at $489,129,000 MarketBeat. Bamco Inc. NY boosted its stake by 5.0% in Q2 to 12,524,752 shares, worth $5,267,911,000 MarketBeat. Overall, 66.20% of TSLA stock is held by institutional investors and hedge funds MarketBeat.