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Tesla’sflailing sale figureshave put the company nearer to the red than it has been in years , consort tofinancial resultsreleased Tuesday , threatening one of its big advantages over other EV players .
The electric automaker report $ 409 million in net income on $ 19.3 billion in receipts after rescue almost 337,000 EVs in the first quarter of the class . The company ’s net income chew over a 71 % drop from the same one-quarter last year .
It was the worst quarter for Tesla deliveries in more than two years and came on the heels of the company ’s first - everyear - to - year drop in sales . Tesla ’s income was cushion by selling $ 595 million in zero - emission tax credits , grant to its earnings report — without those , it would have post a red ink .
Tesla also admonish stockholder about how the trade war may affect its job act forrard . The company said President Trump ’s tariff and “ changing political persuasion ” could have a “ meaningful impact on demand for our products . ”
The company noted the current tariffs , the majority of which are take at China , will have “ a relatively bigger wallop on our Energy business compared to automotive . ” Tesla said it is taking actions to stabilize the concern in the medium to prospicient term and focus on hold its wellness , but it also admonish investors that it ca n’t say whether it will be able to grow sales this class .
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Tesla is sticking to its challenging ( but mystic ) plan around stimulate more low-priced models , tell it continue on track for scratch line of product of these vehicles in the first half of 2025 . During the earnings call , Musk was more specific , stating production would commence in June .
These vehicles will use aspect of a next - generation platform that powers the robotaxi , but will rely on its exist one that power the Model Y and Model 3 , the troupe said in its stockholder ’s missive . As such , these cheaper vehicles will be produced on the same manufacturing line as the current vehicle lineup , the company said .
This flies in the face of a Reuters report from last calendar week that arrogate the first of these unexampled eV isdelayed by months .
Tesla ’s sales are up against a telephone number of headwinds .
The companionship ’s EV batting order is age ( though the sedan chair and SUVs have now all cause face - lifts ) and its new merchandise , the Cybertruck , is nowhere near the strike that CEO Elon Musk thought it could be . And Musk ’s far - correct politics , along with his involvement in the Trump administration , have created a sizable rebound to Tesla ’s stigma .
At the same time , Musk has oriented the company toward its Robotaxi and Optimus robot projects .
He has promised to launch an initial rendering of the Robotaxi help in Austin this June , with other cities potentially coming by the final stage of this year , but has been light-headed on item about how it will work .
Musk has yet to demonstrate that Teslas are capable of driving themselves without human intervention despite years of making that promise . What ’s more , The Information of late reported that an internal analysis done at Tesla showed the Robotaxi course of study would lose money for a tenacious time period of timeeven if it were to work .
At this time last class , Tesla was cope with some gloomy numbers . In case you forgot , the company ’s profits fell 55 % to $ 1.13 billion in the first fourth part of 2024 from the same period in 2023 . Tesla enjoin it was due to a extend EV price - thin strategy and “ several unforeseen challenges ” cut into the automaker ’s bottom credit line .
