This is correct, but it's worth noting new operating leases are still costing Tesla c.$150m per quarter. Cars sold under Tesla's inhouse leasing program were 3% of deliveries in Q3 or 2,513 S/X in Q3. Assuming average cash costs of these at c.$62k means Tesla funded $157m new leases. The reason operating leases in cash flow statement consumed $3m rather than $157m cash in Q3 was likely because old lease cars returning to Tesla were reclassified from operating lease vehicles to finished goods inventory. On the cash flow statement this would have corresponded to c.$154m cash generated by operating leases and $154m cash consumed by inventory. These cars would later be sold second hand and recorded as service revenue, so the inventory cash burn is then cancelled out by booking it as revenue. So net net, Tesla is currently funding direct new leases by selling second hand cars once they are returned to Tesla from leases started 2 years ago. Most leases are now actually sold through third parties rather than Tesla's direct lease program, so Tesla collects cash upfront from leasing partners and books revenue immediately as if it was a customer sale.