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Tesla Releases Fourth Quarter and Full Year 2024 Financial Results

AUSTIN, Texas--(BUSINESS WIRE)-- Tesla has released its financial results for the fourth quarter and full year ended December 31, 2024 by posting an update on its Investor Relations website. Please visit to view the update.

As previously announced, Tesla management will host a live question and answer (Q&A) webcast at 4:30 p.m. Central Time (5:30 p.m. Eastern Time) to discuss the results and outlook.

What: Tesla Fourth Quarter and Full Year 2024 Financial Results Q&A Webcast
When: Wednesday, January 29, 2025
Time: 4:30 p.m. Central Time / 5:30 p.m. Eastern Time
Q4 & FY 24 Update:
Webcast: (live and replay)

The webcast will be archived on the company鈥檚 website following the call.

FINANCIAL SUMMARY

Revenue

Total revenue increased 2% YoY in Q4 to $25.7B. YoY, revenue was impacted by the following items:

• + growth in Energy Generation and Storage and Services and Other
• + growth in vehicle deliveries
• + higher regulatory credit revenue
• - reduced S3XY vehicle average selling price (ASP) (excl. FX impact¹), due to pricing, attractive financing options, and mix

Profitability

Our operating income decreased 23% YoY to $1.6B in Q4, resulting in a 6.2% operating margin. YoY, operating income was primarily impacted by the following items:

• - reduced S3XY vehicle ASP
• - increase in operating expenses driven by AI and other R&D projects
• + growth in Energy Generation and Storage and Services and Other gross profit
• + lower cost per vehicle, including lower raw material costs partially offset by lower fixed cost absorption from production decrease YoY
• + higher regulatory credit revenue

Cash

Quarter-end cash, cash equivalents and investments in Q4 was $36.6B. The sequential increase of $2.9B was primarily the result of positive free cash flow of $2.0B.

View source version on businesswire.com:

Investor Relations Contact:

[email protected]

Source: Tesla