Tesla Reports Fourth Quarter Financial Results
Tesla has unveiled its financial performance for the fourth quarter of 2024, highlighting a revenue generation of $25.17 billion. This figure shows a modest increase of 2 percent when compared to the same period in the previous year.
The automotive manufacturer’s net profit for this quarter stood at $2.32 billion, representing a significant decline of 71 percent from the fourth quarter of 2023, where profits reached $5.9 billion.
In terms of revenue comparisons, Tesla’s earnings for the fourth quarter of 2024 were recorded at $19.8 billion, reflecting an 8 percent decrease from 2023 data.
Tesla has attributed the decline in revenue to adjustments in the pricing structure of its vehicles, particularly the Model 3 and Model Y, alongside other models in its lineup.