Since the beginning of the year, there has been a significant decline in electric vehicle sales in Europe and China. This has led many car brands to decide to invest more in internal combustion engines. Due to the decrease in demand in China, Tesla has had to seriously reduce Model Y production. In addition, the company is gradually reducing its workforce due to falling sales.
Tesla’s Financial Situation
Tesla’s net profit in the second quarter of this year fell by 45% compared to the same period last year, falling to $1.5 billion. A year ago, this figure was $2.7 billion. The company’s revenue increased by 2% compared to the same period last year, reaching $25.5 billion. This figure was recorded as $24.9 billion in the same quarter last year. Tesla’s net profit had also fallen by 55% on an annual basis in the first quarter of this year, due to the impact of global sales declines and price cuts.
Tesla Production and Delivery Figures
In the second quarter of 2024, Tesla produced 410,831 cars worldwide and delivered 443,956 vehicles. Vehicle production decreased by 14% and deliveries decreased by 5% on an annual basis. Tesla’s statement emphasized that the company achieved record quarterly revenue despite the difficult operating conditions it faced in the second quarter.
