Tesla's Profit Decline in 2024
Tesla reported a sharp drop in profit for 2024 due to increased competition from rivals in China, Europe, and the United States. Despite a decline in profit, Tesla remains one of the few carmakers making money on electric vehicles. The company's market share has decreased in key regions, and sales of newer models like the Cybertruck are struggling.
Key Points
- Increased competition from rivals in China, Europe, and the United States
- Tesla's reliance on two main models for car sales
- Tesla's market share decline in key regions
- Sales of newer models like the Cybertruck are flagging
- Investors focused on promises of self-driving 'cybercabs' by Elon Musk
Pros
- One of the few carmakers making money on electric vehicles
Cons
- Decreased profit in 2024 compared to the previous year
- Market share decline in China, Europe, and the United States
- Struggling sales of newer models like the Cybertruck