Nicole Fitch’s Post

Tesla Inc.’s annual vehicle sales dropped for the first time in more than a decade despite a year-end push that sent deliveries to a record in the fourth quarter. The Elon Musk-led company sold 1.79 million vehicles last year, it said Thursday, which was slightly less than what it delivered in 2023 and also below analysts’ consensus estimate. The results offer a sobering reminder of the real-world challenges for EV makers, even as hype around driverless cars and Musk’s closeness with President-elect Donald Trump have sent Tesla’s stock soaring in recent months. Lukewarm consumer demand is weighing on sales of electric cars, an issue that could be exacerbated by Trump’s push to rein in EV incentives.

Tesla reported a dip in full-year auto sales Thursday, missing a company forecast in a sign of rising electric vehicle competition in China and other markets. Elon Musk’s EV company reported 495,570 fourth-quarter deliveries. While that represented a quarterly record, it lagged Wall Street estimates and resulted in full year-sales of just under 1.8 million vehicles. This was around one per cent less than the 2023 sales, even as Tesla said in October that it expected “slight growth” in vehicle deliveries for the year. Read more: https://lnkd.in/eg2QUGdE

While the broader economic environment proved highly favorable for auto sales in Q2 (beyond EVs, but EVs included), as seen in sales numbers from several BEV and legacy players, today's report shows #Tesla kept on sacrificing margins to get the revenues flowing. We expected the several cost-cutting measures taken throughout the quarter to have a greater impact on the company's broader operation. However, that's far from what happened, indicating that further adjustments from the operational side will be needed to keep the company in a competitive position in the quarters ahead. As we shift towards a faster-growth environment in the second half of the year, where competition will keep on bridging a progressively smaller technological gap between EV peers, Tesla will need more of that #Musk magic to get the innovation it needs sooner than later. Perhaps more than ever in recent history, Tesla's investors are in need for fast innovation. This will need to come in part from the humanoid robot and Robotaxi but, mainly, from leaner, better-positioned entry-level models that can actually give the public what they want at better margins. Read all about Tesla's Q2 report on Investing.com https://lnkd.in/dfjadS5i

🚨 Breaking News: Tesla Reports Annual Sales Drop 🚨 Tesla’s annual sales have taken a surprising dip for the first time in years. 📉 What’s driving the decline for the EV giant? Read the full story here 👉 https://lnkd.in/eHdZpc8T 🔋 Let us know your thoughts: ⚡ Is Tesla losing its spark? ⚡ Will they bounce back stronger? #Tesla #ElectricVehicles #EVNews #BrakingNews #TeslaSales #GreenEnergy #SustainableLiving #ElectricCars #AutomotiveIndustry #FutureOfMobility #CleanEnergy #TechNews #EVMarket

Recently, it seems there’s been a lot of doom and gloom around EV sales. Despite ever-dropping prices the market just hasn’t grown the way automakers would like, leading many to shift their priorities to hybrids instead. New data, however, shows that the EV market as a whole isn’t actually suffering. All the problems really come from Tesla. #tesla #makeinindia #investinindia IPQC Consulting Services

💡 While most electric vehicle (EV) manufacturers are experiencing growth, Tesla has encountered unique challenges. In the United States, EV sales increased by 2.6% in the first quarter compared to the same period last year. However, this represents a 15.2% decline from the previous quarter’s sales. 💡 Typically, the first quarter sees the lowest sales figures in the overall vehicle market, trailing the fourth quarter. This trend has not applied to EVs, which have seen consistent quarterly growth since mid-2020. The subdued growth in early 2024 can be attributed primarily to Tesla, the frontrunner in the EV market, which saw a 13% drop in sales during the quarter. 💡 Tesla’s impact on the market is significant, given that it accounts for approximately half of the country’s EV sales. The company has faced several hurdles, notably the underwhelming debut of the Cybertruck and minimally significant updates to its flagship models, the Model Y and Model 3. #electricvehicles #ev #transformation #tesla #ford

"Tesla has made itself an easy target by failing to introduce new products fast enough to maintain customer interest, and Elon Musk has become someone many people don’t want to associate themselves with. Meanwhile, overall EV sales in the United States have flattened out in recent months. EV sales growth has been slowing for a while but in the last two quarters didn’t increase much at all, according to estimates from Cox Automotive. But upon closer inspection, what seems like widespread disinterest in electric vehicles may reflect, largely, less interest in Tesla." #Tesla #ElectricCars #ElectricVehicles #EV

💡 While most electric vehicle (EV) manufacturers are experiencing growth, Tesla has encountered unique challenges. In the United States, EV sales increased by 2.6% in the first quarter compared to the same period last year. However, this represents a 15.2% decline from the previous quarter’s sales. 💡 Typically, the first quarter sees the lowest sales figures in the overall vehicle market, trailing the fourth quarter. This trend has not applied to EVs, which have seen consistent quarterly growth since mid-2020. The subdued growth in early 2024 can be attributed primarily to Tesla, the frontrunner in the EV market, which saw a 13% drop in sales during the quarter. 💡 Tesla’s impact on the market is significant, given that it accounts for approximately half of the country’s EV sales. The company has faced several hurdles, notably the underwhelming debut of the Cybertruck and minimally significant updates to its flagship models, the Model Y and Model 3. #electricvehicles #ev #transformation #tesla #ford

**Tesla's Profit Falls 45% in Q2 Due to Weak EV Sales** Tesla's profit dropped 45% in the second quarter, driven by weaker-than-expected electric vehicle sales. The company reported a net income of $2.7 billion, down from $4.9 billion in the same period last year. Despite this, Tesla's total revenue increased by 16% to $21.5 billion. The decline in profit was attributed to higher costs and lower-than-expected sales of its luxury vehicles. #Tesla #EVs #AutomotiveIndustry #BusinessNews Source: https://lnkd.in/gMxTDVxE Update Date: 1 hour ago

Tesla with double-digit profit margin again in Q3 2024. Yes, and it's still alive! 10.8% profit 25.1 billion dollars in sales (up 8%) 17% increase in net profit compared to the same period last year   Also pleasing registrations of electric cars in Europe rose by 9.8% in September. Purely battery electric cars thus accounted for 17.3% (up 2.5%) of the EU car market. P.S. I like Tesla not Elon https://lnkd.in/dmteC_KD https://lnkd.in/dPCA6Ujv #electric #vehicle #growth