Tesla's Latest Earnings Report and Future Plans

SOURCE www.theverge.com
Tesla releases its latest earnings report, showing a 1.9% increase in revenue and a 70% decrease in net income compared to the previous year. The company plans to release more affordable models and is making progress on fully autonomous vehicles. Elon Musk continues to consolidate power within the US government.

Key Points

  • Revenue increased by 1.9% year over year
  • Tesla sold $692 million in regulatory credits in Q4
  • Plans for new vehicles, including more affordable models, are on track for production in the first half of 2025

Pros

  • Tesla making progress on bringing down cost of goods sold per vehicle
  • Plans to release more affordable EV models in the near future
  • Efforts to develop fully autonomous vehicles progressing well

Cons

  • 70% decrease in net income compared to the previous year
  • Sales falling year over year for the first time in over a decade
  • Uncertainty surrounding the release of a more affordable model