30.01.2025 09:44
Elon Musk stated that financial management would be provided for the social media platform X without the need for bank accounts. However, shortly after these statements, Tesla announced its fourth-quarter earnings for 2024. While revenue increased by 2% to reach $25.7 billion, net profit fell by 71% to $2.3 billion.
The revenue and profit of the American electric vehicle manufacturer Tesla fell short of market expectations in the fourth quarter of last year.
Tesla announced its financial results for the fourth quarter of 2024. Accordingly, the company's revenue increased by 2% to $25.7 billion in the fourth quarter of 2024 compared to the same period last year. Tesla had generated $25.2 billion in revenue in the fourth quarter of 2023. The electric vehicle manufacturer's net profit decreased by 71% to $2.3 billion during the same period. Tesla's net profit was reported as $7.9 billion in the fourth quarter of 2023. The company's earnings per share, which were $2.27 in the same period of the previous year, also fell by 66 cents in the last quarter of last year. The revenue and profit that Tesla achieved in the fourth quarter of 2024 remained below market expectations. The electric vehicle manufacturer's total revenue for the entire last year also reached $97.7 billion, with a 1% increase. During the same period, the company's net profit decreased by 53% to $7.1 billion.
TESLA'S PRODUCTION DECREASED
Tesla produced a total of 459,445 vehicles globally in the fourth quarter of 2024, while delivering 495,570 vehicles. The company's vehicle production decreased by 7% year-on-year during this period, while the number of vehicles delivered increased by 2%. The total number of vehicles produced by the electric vehicle manufacturer in 2024 also fell by 4% to 1,773,443. The number of vehicles delivered also decreased by 1% last year to 1,789,226.
ROBOTAXI EXPECTED TO BE LAUNCHED IN 2025
In a statement from Tesla, it was noted that the last quarter of last year was a record quarter in terms of both vehicle deliveries and energy storage distributions. The statement indicated that significant investments were made in infrastructure to promote the company's growth, including new models, energy storage production capacity, and artificial intelligence training.
The statement emphasized that this year would be a significant year in Tesla's history due to the rapid development of supervised full autonomous driving technology, stating, "This will provide our customers with an unsupervised full autonomous option for our robotaxi business, which we expect to be available in some regions of the U.S. by the end of this year. We are also continuing to work on launching supervised full autonomous technology in Europe and China in 2025."