Tesla's Q4 sales numbers suck

From the «Elon sucks too» department:
Title: Tesla’s 2024 financial results are out—and they’re terrible
Author:
Jonathan M. Gitlin

Date: Thu, 30 Jan 2025 13:18:11 +0000
Link: https://arstechnica.com/cars/2025/01/teslas-2024-financial-results-are-out-and-theyre-terrible/
Podcast Download URL: https://cdn.arstechnica.net/wp-content/uploads/2025/01/GettyImages-1195295397-1152x648.jpg

Tesla released its financial results for 2024 on Wednesday afternoon, following
the close of the markets. The maker of electric vehicles may have to invest in
stocks of red ink, because 2024 results were even less impressive than the
already-underwhelming 2023 numbers[1].

Q4, 2024

During the final quarter of last year, Tesla saw its automotive revenues fall
by 8 percent compared to the same three months of 2023, dropping to $19.8
billion. It more than doubled its energy and storage revenues, which grew by
113 percent compared to Q4 2023, but this amounts to just $3 billion and a
small fraction of Tesla's overall business. Similarly, services posted a 31
percent growth during those three months, but again the actual contribution in
dollar terms was just $2.8 billion.

Total revenue grew by 2 percent in Q4, but income fell by 23 percent, and its
operating margin has dropped to just 6.2 percent—the lowest since Q1 2024. By
contrast, the industry average operating margin for an automaker is around 10
percent. Net profits fell an astounding 71 percent to $2.3 billion.

Read full article[2]

Comments[3]

Links:
[1]: https://arstechnica.com/cars/2024/01/tesla-publishes-its-financial-results-for-2023-profit-margin-shrinks/ (link)
[2]: https://arstechnica.com/cars/2025/01/teslas-2024-financial-results-are-out-and-theyre-terrible/ (link)
[3]: https://arstechnica.com/cars/2025/01/teslas-2024-financial-results-are-out-and-theyre-terrible/#comments (link)