SAN FRANCISCO: Tesla on Wednesday (Jan 24) warned of “notably lower” vehicle sales growth this year and reported a fall in fourth-quarter gross margin.
Tesla Sales: Net income more than doubled from the previous year to USD 7.9 billion, including a USD 5.9 billion noncash gain related to deferred tax assets. Tesla said lower raw material costs and U.S. government credits helped lower cost-per-vehicle, but Cybertruck production and AI and other research projects increased costs.
Tesla shares fell sharply in pre-market trading Thursday after the maker of electric vehicles said it expects lower vehicle volume growth this year. Monitor these key chart levels.
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