Things are not going well for 2024. Number of vehicles delivered by Tesla in the first quarter of this year While it remained below expectations, the company's sales decreased for the first time since 2020.
Terrible information about the US-based electric manufacturer continues to come. The company published its first quarter financial report.
Sharp decline in Tesla's net profit
Tesla's revenue decreased by 9 percent in the first quarter of the year compared to the same period last year, falling to 21,3 billion dollars. Tesla earned $2023 billion in revenue in the first quarter of 23,3.
The company's revenue, which decreased due to increasing competition and the slowdown in demand for electric vehicles, was below market expectations in the said period.
The electric car manufacturer's net profit decreased by 55 percent in the first quarter of the year compared to the same period last year, falling to 1,1 billion dollars. Tesla's net profit was 2,5 billion dollars in the same period last year.
In the statement made by Tesla, it was stated that global electric vehicle sales continue to remain under pressure as many car manufacturers prioritize hybrids over electric vehicles.
