{"id":21137,"date":"2025-01-29T20:18:45","date_gmt":"2025-01-29T21:18:45","guid":{"rendered":"https:\/\/medexperts.pro\/?p=21137"},"modified":"2025-01-29T21:24:42","modified_gmt":"2025-01-29T21:24:42","slug":"teslas-profit-fell-sharply-last-year","status":"publish","type":"post","link":"https:\/\/medexperts.pro\/?p=21137","title":{"rendered":"Tesla\u2019s Profit Fell Sharply Last Year"},"content":{"rendered":"
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The electric car company run by Elon Musk is facing increasing competition, but investors have focused mostly on the prospects for Tesla\u2019s self-driving technology.<\/p>\n

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Tesla on Wednesday reported a sharp drop in profit for 2024 as rivals in China, Europe and the United States chipped away at its lead in the market for electric cars.<\/p>\n

The company, which is led by Elon Musk, said it made a profit of $2.3 billion during the last three months of 2024. That was a decline compared with $7.9 billion a year earlier, but 2023\u2019s profit included a one-time tax benefit of $5.9 billion. Tesla\u2019s operating profit, which excludes that special gain, fell 23 percent in the final three months of the year.<\/p>\n

Sales rose 2 percent to $25.7 billion in the fourth quarter, from $25.2 billion in the same period in 2023.<\/p>\n

For the full year, profit was $7.1 billion, Tesla said, down from $15 billion a year earlier. Sales rose to $97.7 billion, from $96.8 billion in 2023.<\/p>\n<\/div>\n<\/div>\n

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Tesla also sells batteries used by electric utilities, businesses and homes to store energy from solar panels and other sources. Increased sales of those products helped compensate for lackluster car sales.<\/p>\n

The company remains reliant on two models, the Model 3 sedan and Model Y sport utility vehicle, for most of its car sales, while rivals in Asia, Europe and the United States offer a wider and growing selection of electric vehicles.<\/p>\n

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The electric car company run by Elon Musk is facing increasing competition, but investors have focused mostly on the prospects for Tesla\u2019s self-driving technology.Tesla on Wednesday reported a sharp drop in profit for 2024 as rivals in China, Europe and the United States chipped away at its lead in the market for electric cars.The company, which is led by Elon Musk, said it made a profit of $2.3 billion during the last three months of 2024. That was a decline compared with $7.9 billion a year earlier, but 2023\u2019s profit included a one-time tax benefit of $5.9 billion. Tesla\u2019s operating profit, which excludes that special gain, fell 23 percent in the final three months of the year.Sales rose 2 percent to $25.7 billion in the fourth quarter, from $25.2 billion in the same period in 2023.For the full year, profit was $7.1 billion, Tesla said, down from $15 billion a year earlier. Sales rose to $97.7 billion, from $96.8 billion in 2023.Tesla also sells batteries used by electric utilities, businesses and homes to store energy from solar panels and other sources. Increased sales of those products helped compensate for lackluster car sales.The company remains reliant on two models, the Model 3 sedan and Model Y sport utility vehicle, for most of its car sales, while rivals in Asia, Europe and the United States offer a wider and growing selection of electric vehicles.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and\u00a0log into\u00a0your Times account, or\u00a0subscribe\u00a0for all of The Times.Thank you for your patience while we verify access.Already a subscriber?\u00a0Log in.Want all of The Times?\u00a0Subscribe.<\/p>\n","protected":false},"author":1,"featured_media":21139,"comment_status":"close","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-21137","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"_links":{"self":[{"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/posts\/21137","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=21137"}],"version-history":[{"count":2,"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/posts\/21137\/revisions"}],"predecessor-version":[{"id":21140,"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/posts\/21137\/revisions\/21140"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/media\/21139"}],"wp:attachment":[{"href":"https:\/\/medexperts.pro\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=21137"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=21137"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=21137"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}