Tesla has closed 2024 with A 71% drop in benefits Up to 2.3 billion dollars, while income barely grew 2%. The company has registered its first historical setback in cars deliveries, something that We saw coming.
Why is it important. The moment could not be more critical. Tesla is in front of a perfect storm:
- Growing Chinese competition, With Byd at the head.
- Global price war.
- Premium market saturation.
- End of government aid.
Musk’s response has been remarkable: Price cuts that have eroded the margins to alarming levels.
Between the lines. Musk seems to be repeating its usual strategy: in the face of disappointing results, it promises technological revolutions that divert attention to the fundamental problems of the business.
This time, the bet is double: autonomous taxis and Humanoid robots.
Yes, but. Musk’s closeness with Trump has triggered the value of shares more than 100% in the last year, challenging all financial logic. Investors seem to bet more on the political influence of Musk than by the fundamentals of Tesla.
- The operating margins have collapsed to 6.2%, from 8.2% of the previous year.
- Cybertruck sales have stagnated in 13,000 quarterly units. AND Every time they sell cheaper.
- Tesla depends more and more on regulatory credits: 692 million dollars this quarter. Trump has put them in the target.
Between bambalins. The advertisement of the autonomous taxi Cybercab for 2026 And the beginning of Robotaxis operations In June of this 2025, he dangerously remembers previous promises unfulfilled. However, Musk insists: “This time the wolf is real. And it can drive alone.”
Tesla is at a historical crossroads: either it manages to materialize its technological promises and maintains its position as an innovative leader, or runs the risk of becoming a more cars manufacturer, less and less differential with respect to others, and caught in a price war With diminishing margins.
Deepen:
- The New version of Model and It will reach 60,000 dollars in March, 33% more expensive than the current model.
- The European records of Tesla fell 24% in October.
- The company It is under investigation due to fatal accidents related to its autonomous driving system.
- Tesla’s brand value was reduced by 15,000 million in 2024, partly for Musk’s political rhetoric.
The Trump administration promises to eliminate incentives for electric vehicles. Musk says this will harm the competition more than his company, but analysts are not so safe: Tesla is no longer the only relevant actor in the premium electricity market.
Outstanding image | Xataka with Midjourney
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