Tesla’s fourth-quarter net profit fell 71% from a year ago, when the effects were stimulated through a single tax service. The newer effects did not succeed in Wall Street’s forecasts.
The controlled corporate electric vehicle through Elon Musk said Wednesday that he had achieved $ 2. 31 billion from October to December, or less than $ 7. 93 billion in profits that recorded the same effectiveness in 2023.
Excluding occasional items in the two consistent withiods, Austin, Texas, the profits of the highest company of 3% to 73 cents consisting of participation, still enough to respond to the estimation of 77 cents analysts consisting of the action.
Tesla’s action fell by more than 2% after the negotiation final on Wednesday, but fell after the report, despite the effects under the effects. The shares have higher by more than 50% since Donald Trump was elected president, because investors expect Musk’s advice role in the new administration to be helping the company.
Revenue for the quarter was higher by 2% to $25. 7 billion, less than Wall Street’s forecasts of $27. 1 billion, according to Fostst.
The slight rise in revenue came after Tesla offered a series of incentives to drum up demand for its electric vehicles including low-interest loans and lower prices.
Earlier this month, Tesla said it sold 1.79 million vehicles in 2024, the first drop in more than a dozen years despite offers of 0% financing, free charging and low-priced leases. The fourth quarter showed signs of a rebound, though, with a record 495,570 vehicles sold.
Tesla has lost market share in several countries as classic automakers and other EV companies, such as China’s BYD, offer consumer alternatives.
In its letter to shareholders released Wednesday, Tesla said it was working to drive the cost of its vehicles lower, highlighting that one measure fell below $35,000, the lowest in its history.
The company also said that it hopes to offer an autonomous generation absolutely without supervision to Tesla consumers at the end of this year.
Tesla’s gross profit margin fell to 16.3% for the quarter, down 1.3 percentage points from a year earlier.