Tesla struggles

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Liam Gill
January 25, 2024

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Tesla's Q4 earnings report showed a slight miss on revenue and earnings per share expectations. Automotive revenue increased by only 1% compared to the previous year. The company reported significant income growth, largely due to a one-time tax benefit. Tesla warned of potentially lower vehicle volume growth in 2024 as they focus on launching their "next-generation vehicle" in Texas. CEO Elon Musk discussed the potential of the humanoid robot Optimus and the importance of having significant voting control in the company. Tesla has begun selling Cybertrucks, expecting a slower ramp-up due to manufacturing complexities. The energy division and services saw significant revenue growth. Overall, operating income decreased year over year, attributed to lower average vehicle sales prices and increased operating expenses. Tesla's shares have experienced a decline in the early part of this year following a significant rise in 2023.

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