Found an error?
Report now
Tesla sales by tech billionaire Elon Musk were not as high as expected. Wall Street analysts had misjudged their forecasts. (Archive image of Musk)
Keystone
Tesla has missed Wall Street's expectations with its figures for the past quarter. The quarterly profit fell by 71 percent to just over 2.3 billion dollars.
The turnover of electric car manufacturer Tesla increased by two percent year-on-year to 25.7 billion dollars. However, analysts had expected around 27.3 billion dollars. Tesla's adjusted earnings per share of 0.73 dollars also fell short of analysts' expectations of 0.76 dollars. The share price fell by around three percent at times in US after-hours trading.
Tesla had suffered the first decline in deliveries of its electric cars in more than a decade in 2024. The US manufacturer led by tech billionaire Elon Musk delivered just under 1.79 million vehicles to customers. That was 19,355 fewer than in 2023. Musk had forecast a slight increase.
However, Tesla would still have had to deliver 515,000 cars to customers in the final quarter. Despite a sales offensive, the final figure was only 495,570 vehicles - still a record. However, this figure also fell short of analysts' average estimates.
Tesla shares have been soaring since the US presidential election in November. This was triggered by Musk's closeness to US President Donald Trump.
Musk himself said that he sees Tesla "between two waves of growth". He is focusing primarily on autonomous driving technology and presented the prototype of a robotaxi without a steering wheel or pedals in October. With his closeness to Trump, Musk could build up pressure for more favorable regulatory conditions for self-driving cars.
Meanwhile, critics of Tesla point to an ageing model range from the industry pioneer, which recently only added one niche model in the form of the Cybertruck electric pickup truck.
29.01.2025, 22:36
29.01.2025, 23:06
