Tesla’s leakage sales figures have brought the company closer to the Red for years that for years, according to the financial results published on Tuesday, threatening one of its greatest advantages compared to other VE players.
The electric car manufacturer said $ 409 million in net profit on $ 19.3 billion in revenue after delivering nearly 337,000 electric vehicles in the first quarter of the year.
The company’s net profit reflects a drop of 71% compared to the same quarter of last year. It was the worst quarter for Tesla deliveries in more than two years and came to the very first drop in sales from one year to business. Tesla’s income was shaken by selling $ 595 million in zero emission tax credits, according to its report on results – without these, it would have recorded a loss.
Tesla has also warned shareholders about how the trade war can affect its activity in the future. The company said that President Trump’s prices and “the evolution of political feeling” could have a “significant impact on demand for our products”.
The company noted that the current prices, the essentials of which are aimed at China, will have “a relatively more important impact on our energy activity compared to the automobile”. Tesla said he was taking measures to stabilize the business in the long term and focus on maintaining his health, but he also warned investors that he could not say if he will be able to develop sales this year.
Tesla sticks to her ambitious (but mysterious) plans to create more affordable models, declaring that he remains on the right track for the start of the production of these vehicles in the first half of 2025. These vehicles will use aspects of a next generation platform which feeds the company said in its letter of the actuator. As such, these cheaper vehicles will be produced on the same manufacturing lines as the current vehicle range, said the company.
This flies in front of a last week’s reuters report which said that the first of these new electric vehicles is delayed by month.
Tesla sales are faced with a number of opposite winds.
The EV range of the company is aging (although the sedans and the SUVs have all obtained lifting) and its new product, the Cybertruck, is far from the success that the CEO Elon Musk thought it could be. And Musk’s far right policy, as well as its involvement in the Trump administration, created an important reaction to the Tesla brand.
At the same time, Musk oriented the company in its Robotaxi and Optimus Robot projects.
He promised to launch an initial version of the Robotaxi service in Austin in June, with other cities potentially at the end of this year, but it was light on the details of how it will work.
Musk has not yet demonstrated that Teslas is able to behave without human intervention despite years of promise. In addition, the information recently reported that an internal analysis carried out in Tesla showed that the Robotaxi program would lose money for a long time even if it worked.
At that time last year, Tesla was struggling with dark figures. In the event that you forgot, the company’s profits dropped 55% to $ 1.13 billion in the first quarter of 2024 compared to the same period in 2023. Tesla said it was due to a prolonged EV price reduction strategy and “several unforeseen challenges” reduced in the results of the automaker.
Tesla tried to overthrow this ship to profit, but faced continuous pressure. In the second quarter of 2024, Tesla declared $ 1.5 billion in profits, down 45% compared to the same period in 2023. The profits were reached by restructuring costs of $ 622 million. Although it should be noted that the profit has been padded by a record of $ 890 million in regulatory credit sales.
