Tesla reported its first-quarter performance in 2025 following the production and delivery figures released earlier. Total revenue decreased by 9% from the same quarter in the previous year to $19.335 billion. Specifically, automotive revenue decreased by 20% to $13.967 billion, while revenue from energy, battery, and services increased to offset the decline. Net income according to GAAP accounting standards decreased by 71% to $409 million.
Tesla stated that in the past quarter, all four Model Y production lines were simultaneously operational, reflecting successful supply chain management. However, this production adjustment led to a reduction in the number of vehicle deliveries and a decrease in overall revenue. Additionally, the average selling price (ASP) of vehicles also decreased.
Tesla acknowledged the challenges posed by the impact assessment of new global trade policies, affecting both automotive and energy business costs. The company will reevaluate revenue and profit figures for the current quarter. Furthermore, plans for the release of lower-priced vehicle models remain on track for the first half of 2025, with production of the Cybercab expected to commence in 2026.
TLDR: Tesla reported a decline in revenue and net income in the first quarter of 2025, with adjustments in production impacting vehicle deliveries and average selling prices. The company faces challenges from global trade policies but remains focused on future product releases.
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