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submitted 1 day ago by [email protected] to c/[email protected]

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AI Summary:

Tesla's 2024 financial results were disappointing, with several key points highlighted:

Automotive Revenues: Fell by 8% in Q4 2024 compared to Q4 2023, totaling $19.8 billion.
Energy and Storage Revenues: More than doubled, growing by 113% to $3 billion in Q4 2024.
Services: Grew by 31% in Q4 2024, contributing $2.8 billion.
Total Revenue: Increased by 2% in Q4 2024, but income fell by 23%, with an operating margin of 6.2%.
Net Profits: Dropped by 71% to $2.3 billion in Q4 2024.
Annual Performance: Automotive revenues decreased by 6% to $77 billion in 2024. Energy generation and storage increased by 67% to $10 billion. Services grew by 27%, bringing in $10.5 billion.
Gross Profits: Fell by 1%, with net profits dropping by 53% to $7.1 billion for the year.
Free Cash Flow: Decreased by 18% to $3.6 billion.
Regulatory Credits: $2.8 billion of profit came from selling regulatory credits, not from core business activities.
Future Predictions: Tesla expects energy storage revenues to grow by at least 50% year-over-year and aims to grow automotive sales by more than 60% in 2025.

Despite the poor financial results, Tesla's share price increased by 103% over the same period.

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[–] [email protected] 5 points 22 hours ago (1 children)

Source on the killing of credits?

Those are California ZEV credits, and other similar non USA programs.

They're going to kill a lot of other things, but haven't heard about that yet.

[–] [email protected] 7 points 21 hours ago (1 children)

This one is paywalled, but if you hit the firefox reader mode button quick enough you can bypass BI's content blocker.

[–] [email protected] 5 points 21 hours ago* (last edited 21 hours ago)

Just on mobile now so can't read it all, but it did get the gist across, thanks! I hadnt seen that yet.

I still think they'd have to win a lawsuit against California saying California can't have the program?

Edit: as in I don't think they can just scrap it like he's scrapping other things via executive order.