Tesla brought in $25.2 billion in total revenue for Q4 2023, a year-over-year increase of 3 percent. Gross profits were down 23 percent for the quarter year over year, although net income (as determined by generally agreed accounting principles) increased 115 percent year over year.
The Model Y crossover is responsible for much of the company's success in 2023-Tesla normally does not break out sales or deliveries between the Models 3 and Y, but revealed in its results slideshow that it delivered 1.2 million Model Ys last year, meaning that it also delivered about 500,000 Model 3 sedans. Plenty of price cuts helped make that happen in the US, Europe and China, where it is increasingly under pressure from the Chinese automaker BYD.
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