Tesla launches new 0% financing plan and discounts in China

Rivian (RIVN) raised its 2026 delivery outlook to 67,000–70,000 vehicles and improved adjusted core guidance by $100M. Tesla (TSLA) expanded its robotaxi fleet, with Cybercabs outnumbering Model Ys in Texas. Ford (F) advanced plans for a sub-$30K EV pickup. GM is developing hybrid SUVs. RIVN +3%, TSLA +7%, GM +15%, F +6% this week.

Nasdaq fell 2.9% to 25,437, its steepest single-day decline since March 2025, turning a weekly gain into a 2% loss. Intel (INTC) dropped 28.6% after weak guidance, while other tech stocks like AMD (AMD) and Nvidia (NVDA) also declined. Alphabet (GOOGL) and Amazon (AMZN) reported slowing growth, while Microsoft (MSFT) saw cloud revenue growth. The Magnificent 7 stocks showed technical weakness. Crude oil rose, and bond yields fell as investors sought safety.

Tesla and SpaceX have formed special committees to explore a potential merger, as requested by shareholders. Musk, CEO of both, is excluded from discussions due to conflict of interest. No agreement has been reached, and shareholder approval is required. Musk controls 82% of SpaceX's voting power. A combined entity could be worth over $3.6 trillion, with analysts expecting SpaceX to acquire Tesla.

Democracy Defenders Fund reports Elon Musk's companies received $10B in new federal contracts since 2025, with 25 agencies easing regulations. Musk's net worth doubled to $900B-$1T. Key contracts include $6.5B for SpaceX's missile defense program. SEC settled a case for $1.5M, raising concerns about preferential treatment. Other agencies reduced fines and granted waivers, but some policies hurt Tesla.

Tesla (TSLA) shares fell 0.79% to $400.12 as the company awaits a federal safety-certification response for its Cybercab ambitions. The NHTSA granted a 30-day extension, with October 30 as the deadline. The audit focuses on Tesla's certification under federal vehicle-safety standards. Investors are watching for progress, with TSLA's market cap at $1.58T and a P/E ratio of 440.17.

Italy supports Tesla's EU-wide approval for its supervised driving software, according to Deputy PM Matteo Salvini after his conversation with Elon Musk. Italy joins Germany in backing the approval, which requires at least 15 EU member states. Latvia recently became the 10th EU country to approve the software, with a total of 18 markets approving it so far.