40 percent of its profit came from selling regulatory credits.

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.

  • NotMyOldRedditName@lemmy.worldEnglish
    5·
    19 hours ago

    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.

      • NotMyOldRedditName@lemmy.worldEnglish
        5·
        17 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.