Tesla

Tesla says Q4 net income fell 71% to $2.3 billion; gross margin slides

Tesla Model Y and Model 3 dominated the automaker's global sales in the fourth quarter of 2024.
Tesla Model Y and Model 3, shown in a California showroom, dominated the automaker's global sales in the fourth quarter of 2024. (LAURENCE ILIFF/AUTOMOTIVE NEWS)
January 29, 2025 09:33 PM

Tesla Inc. said fourth-quarter net income fell 71 percent to $2.3 billion and its gross margin was impacted by sales incentives and discounts. Most of the net income decline came from a $5.9 billion one-time noncash tax benefit in fourth-quarter 2023, making for an unfavorable comparison.

Staying current is easy with newsletters delivered straight to your inbox.