Tesla's Q1 financial report reveals a concerning decline in automotive revenue, with total sales reaching $19.335 billion, down 24.8% from the previous quarter and 9.2% year-over-year, falling short of market expectations of $21.11 billion. The company's automotive business generated $13.967 billion in revenue, suffering a 29.5% drop quarter-over-quarter and a significant 19.6% decrease compared to the same period last year. Notably, Tesla reported a diluted earnings per share of $0.27, missing predictions of $0.39 and reflecting a steep decline of 55% from the previous quarter and 40% year-over-year.
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The disappointing results are largely attributed to a significant reduction in vehicle deliveries, which totaled 336,700 units in Q1, representing a 32% drop from Q4 and a 13% decrease year-over-year. This marks the lowest delivery figures since Q2 2022, primarily due to production shifts towards the new Model Y line at four of its factories, resulting in weeks of lost output. External factors such as changing U.S. renewable energy policies, escalating trade tensions, and backlash against CEO Elon Musk have further complicated the company's sales trajectory.
Additionally, the company received $595 million in EV subsidies during the quarter, while its net profit stood at $420 million, implying that without these subsidies, Tesla's auto division would have faced losses. The energy generation and storage division performed slightly better, posting $2.73 billion in revenue—a 67% increase year-over-year despite a 10.8% decline from the previous quarter. As Tesla navigates challenges in both automotive and energy markets, it remains cautious about the impact of evolving global trade policies and political sentiment on product demand throughout the year.
Source: sina / Pic:
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