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Tesla sees disappointing fourth-quarter earnings amid declining car deliveries (www.theguardian.com)

submitted 1 week ago by [email protected] to c/[email protected]

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Summary

Tesla reported weaker-than-expected Q4 2024 earnings, with revenue at $25.71B and 495,570 vehicle deliveries, marking its first annual decline.

Competition from China's BYD, reduced European EV subsidies, and falling demand for older models contributed to the slump.

The Cybertruck's launch failed to offset losses, and Tesla faces federal scrutiny over self-driving tech.

Despite setbacks, Tesla's stock doubled over the past year, partly due to investor confidence in Elon Musk’s political connections and potential U.S. tariffs on Chinese EVs benefiting the company.

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[–] greenshirtdenimjeans 20 points 1 week ago (1 children)

Competition from China's BYD, reduced European EV subsidies, and falling demand for older models contributed to the slump.

I’m no expert in this industry but I’d put money on a 4th reason.

[–] Hideakikarate 17 points 1 week ago (1 children)

[–] greenshirtdenimjeans 4 points 1 week ago

This was for Q4 so the impact of that gif isn’t even reflected yet haha

[–] [email protected] 5 points 1 week ago

Womp womp.

[–] [email protected] 4 points 1 week ago

Swastikar

[–] [email protected] 2 points 1 week ago

I don't see this getting better either. The EV subsidy is disappearing in multiple places, and Tesla is increasing the price by about $7k on its most popular model (the Model Y) with its refresh coming out.