Tesla profits cut in half as demand falls | BBC News

Tesla has seen its profits more than halve this year, and says it will bring forward the launch of new models after announcing thousands of job cuts to try to reverse its fortunes.

The electric vehicle maker said on Tuesday it had made $1.13bn (£910m) over the first three months of the year, compared with $2.51bn a year earlier.

Tesla, owned and run by the billionaire Elon Musk, said it would axe more than 6,000 jobs at its sites in Texas and California.

The company has suffered from falling demand and competition from cheaper Chinese imports which has led its stock price to collapse by 43% over 2024.



#Tesla #ElonMusk #BBCNews

[hdw]

Cyber truck was a foolish gimmick that completely failed… instead they should have build a 20k car with great range and fast charging

[ABanRocks]

Let be honest the cheaper model won't be ready for years. Anything Elon said is delayed by a few years. They should have focused on that instead of Cyber Truck 😮

[koruspring]

It had early player benefits but that's gone

[cardboardmark]

No money being made on hyperloop? Tesla bot? What about Tesla solar? Still no money? You gotta be making some with starlink? Cybertruck? Still no money? What happened to the great techno king?

[penepatitenor]

I mean, are we surprised? If you want a proper E car, go to an actual car company.

[tonymcflattie]

Tesla can stick the plug where the sun doesn’t shine

[catalinacurio]

People don’t want to fund a wanna be dictator…

[sciencesaves]

Doesn’t help when your ceo has fish guts for brains

[TrebleTS]

He got too comfortable not updating the cars looks

[Jammy-og]

So much depressing news at the moment but this has really cheered me up, thanks

[王中天-vm]

In China, Tesla fired all college students who joined this year😅

[Riomojo]

They also just recalled every Cyber Truck

[michaelfrench]

Oh, and let's not forget that Tesla stock is ridiculously overvalued. Their market share is tiny yet they have a valuation in the billions. That is not sustainable. It is a scam

[Muddygrimm]

Turns out everyone is broke now. Who can afford this stuff?

[TomNook.]

Its crazy that the presenter thinks it'll be a "big hit in China" when the US government is actively restricting sales of Chinese products in their country.

[Thispersonmademecrywithfacts]

Because people are figuring out they bought an over priced throw away car.

[clyde]

The only advantage they had was that no other big car companies was there to take the electric car market.

[jublywubly]

2:50 Tesla won't be allowed to market their vehicles like that in Australia; with the use of a "Zero Emissions" plate. That's misleading advertising, because the electricity doesn't just appear, it comes from power plants and many of those power plants are coal-powered. Also, they create greater tyre rubber pollution, due to their extra weight. (Not forgetting the rest of the pollution created with their production etc.)

[DDT-For-Human]

byd is outselling tesla everywhere except us, but only because byd does not sell in the us

[freestylefranc]

track record would say why electric died in the 70's😂