this post was submitted on 30 Jan 2025
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Tesla’s 2024 financial results are out—and they’re terrible (arstechnica.com)
submitted 1 day ago by Xatolos@reddthat.com to c/technology@lemmy.world
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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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[–] foggenbooty@lemmy.world 1 points 3 hours ago (1 children)

I believed him at first, why wouldn't I? Self driving was starting to take shape, the demos looked good, I assumed what he was saying was legitimate.

I remember starting to question things around the time of the Tesla Semi reveal. It didn't make sense to me that you'd use heavy, short range batteries in an industry that runs by driving as far as possible, for as cheap as possible, hauling as much as possible. There were just too many compromises and he didn't give any details other than acceleration (who cares in trucking).

After that I started looking into him more and realized his bullshit spread through everything he touched. I honestly think most people are simply not paying attention to him, they just read headlines and since headlines never call him out and only amp up the crazy ambitious things he says, people believe he's a genius.

That seems to be slowly changing as he opens his stupid mouth about politics, but he's pivoting to a new audience now.

[–] Buffalox@lemmy.world 1 points 2 hours ago

I believed him at first, why wouldn’t I?

Admittedly so did I. 😋
I agree the Truck convoy claim to be cheaper than trains were so obviously bullshit, I was beginning to get on to him by that time, but if I wasn't sure before that, I definitely agree at that time it became obvious that he is a fraud.

headlines never call him out and only amp up the crazy ambitious things he says, people believe he’s a genius.

Absolutely, it's so bad much of the media are essentially complicit.

That seems to be slowly changing
Here it's changing fast, it may be tomato - tomato, but some claim Tesla is still the best option, despite all the bullshit.
But we recently had a report on how Tesla had record high failure rate on mandatory safety checks after 4 years here in Denmark. So maybe that will detract from the "best option" bullshit.
Tesla claims to have cheaper servicing, but if the cars aren't legally road worthy, when adhering to manufacturer service recommendations, that's just another bullshit claim.

I've seen reviews where they point out cheaper maintenance of Tesla as a HUGE advantage, making them cheapest car to own in their category. This has annoyed me a little, because I'm a little bit in love with the Skoda Enyaq, but it cost about twice in maintenance than a Tesla Y. Well maybe there's a reason for that, and it doesn't annoy me anymore. Because if you follow recommendations for the Skoda it's actually maintained, the Tesla is not. The same for all other VW family cars, they are a bit expensive to maintain, but I've NEVER heard about problems like with Tesla on safety on any VW-group car.