Tesla is set to report its fourth-quarter earnings for 2024, revealing a challenging year for sales but solid stock performance. Analysts predict $0.62 earnings-per-share and $27.22 billion in revenue. Despite regaining the EV sales lead earlier in 2024 due to price cuts, Tesla reported its first decline in annual vehicle deliveries. Factors include reduced European subsidies and competition from cheaper EVs like those from BYD. The newly released Cybertruck has not met sales expectations, and investigations into its self-driving features could impact its reputation further.
Tesla's disappointing delivery numbers indicate its offerings failed to entice new customers, leading to the company's first-ever decline in annual vehicle deliveries.
Despite regaining the top spot in EV sales for the first three quarters of 2024 due to price cuts, Tesla faces stiff competition from lower-priced alternatives.
Analysts predict earnings-per-share at $0.62 and revenue at $27.22 billion for Tesla's upcoming fourth-quarter report, amidst a turbulent year for sales.
The Cybertruck, priced at approximately $80,000, has not balanced out the declining demand for Tesla's older models, contributing to overall disappointing sales.
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