Tesla reported on Wednesday that due to China, Europe and the United States, competitors occupied the decline in profit in 2024 among the leading advantages of the electric vehicle market.
The company was led by Elon Musk, who said the company’s profit was $ 2.3 billion in the last three months of 2024. This was a decline, and the same period last year was $ 7.9 billion, but the profit in 2023 included a one -time tax discount, $ 5.9. One billion. Tesla’s operating profit does not include special income, which has decreased by 23 % in the last three months of a year.
Sales in the fourth quarter increased by 2 % to 25.7 billion US dollars, US $ 25.2 billion in the same period in 2023.
The company’s income and profits have received $ 692 million in regulatory credit sales, which requires them to meet other automakers with emission standards. A year ago, the company produced $ 433 million from this sales. The Trump administration and Republicans of the Congress said they intend to abolish Tesla’s regulations that allow Tesla to sell such credits.
Tesla said the year’s profit was US $ 7.1 billion, which was lower than $ 15 billion in the same period last year. Sales increased from US $ 96.8 billion in 2023 to $ 97.7 billion.
Tesla also sells power batteries, batteries used by enterprises and houses to store the energy of solar panels and other sources. The increase in sales of these products helps to make up for the lack of car sales.
The company still relies on two models in most car sales, namely 3 -type cars and Model Y Sport Utility vehicles. In Asia, competitors in Europe and the United States provide broader electric vehicle choices.
Byd, headquartered in China, sells more than a dozen electric and plug -in hybrid models from sub -type to small trucks, and has become the biggest challenger of Tesla outside Tesla. HSBC’s analysts said in a report that in the second quarter of the second quarter of this year, Chinese automakers will launch more than 60 models.
Tesla said in his income report that the new version of the model Y will be released in March at a starting price of about $ 60,000. The current model starts at about $ 45,000. It also said that the “more affordable” model will be produced in the first half of this year, but it does not provide any details.
Tesla said that the autonomous vehicle that can be used as a driverless taxi will begin production in 2026.
The increase in competition and the relatively lack of Tesla’s relatively lack of new models led to the company’s market share in China last year, Europe and the United States declined. Tesla said earlier this month that it sold 1.8 million cars around the world in 2024, less than in 2023. For a company, this is a great change. In 2023, the company increased by 38 % of car sales and 40 % in 2022.
According to COX Automotive data, in the United States, Tesla’s electric vehicle market share decreased from 51 % in the same period last year to 44 %. Tesla also lost its position in the luxury market. In the United States, the price of BMW is almost as much as the Model S car sold by Tesla in 2024. According to Cowks, Rivian sold about 7,000 R1S SUVs as Tesla’s Model X.
At the sales of Tesla’s latest vehicles, the Cexbte -style pickup starts at about $ 80,000, and it seems to be acting. According to Cowks’ estimates, Tesla sold 13,000 Cymbrace in the fourth quarter, lower than 16,700 in the third quarter.
Tesla has reduced prices and provided low -interest financing to increase sales, but these measures are at the cost of profits. Nevertheless, Tesla is one of the few car manufacturers who make money on electric vehicles. Ford, GM and others have not sold enough electric cars to recover their investment for re -loading and manufacturing batteries.
Although the company’s financial performance is poor, Tesla’s stock has soared since November. On the contrary, investors will focus on Mr. Musk’s promise of “network cabinet” to produce autonomous driving “network cabinets”. He said that this may generate trillion dollars in income. The company said on Wednesday that its taxi business will start in some parts of the United States “starting later this year.”
The analyst in a report in Barclays this month said: “The stock is no longer bound by fundamental.” On the contrary, investors are betting on “Elon’s star power” and “Tesla as a failure as a failure. The role of the person, no matter how far the chance is. “
Some investors obviously also hope that the close contact between Mr. Musk and President Trump will help Tesla: for example, by helping remove the regulatory obstacles of autonomous vehicles.
However, Mr. Trump and Republicans of Congress have agreed to cancel tax credit and other incentive measures to electric vehicles including Tesla. Mr. Musk said that incentives would harm Bitsla more harmful competitors.
The company has a company headquarters in Austin, Texas. The company stated that this year will launch a car, which is significantly lower than the type 3 type and 3 car. The car starts at $ 42,500 before government incentive measures. More affordable cars may attract more buyers and help restore sales. But Tesla did not provide detailed information or display prototypes.
