Tesla's 2023 revenue falls short of market expectations!

US electric vehicle manufacturer Tesla has warned that vehicle volume growth may be lower this year compared to 2023 due to work on a next-generation vehicle.

Accordingly, the company's revenue in the fourth quarter of 2023 rose by 3 percent compared to the same period of the previous year, reaching 25.2 billion dollars. Tesla had generated 24.3 billion dollars in revenue in the fourth quarter of 2022.

Tesla failed to meet market expectations for higher revenue.

The electric vehicle manufacturer's net profit nearly doubled in the same period, rising to 7.9 billion dollars. Tesla's net profit was calculated at 3.7 billion dollars in the fourth quarter of 2022.

VEHICLE DELIVERIES INCREASED BY 20 PERCENT

In the final quarter of 2023, Tesla produced 494 thousand 989 vehicles globally and delivered 484 thousand 507 vehicles.

The company's vehicle production increased by 13 percent on an annual basis during this period, while the number of vehicles delivered rose by 20 percent.

In a statement from Tesla, it was warned that teams are working on a next-generation vehicle at the production facility in Texas known as the "Gigafactory," and therefore, growth in vehicle volume this year may be lower compared to last year.

The statement also included the following: "For a long time, many people doubted the sustainability of electric vehicles. Today, the best-selling vehicle on the planet is an electric vehicle."

News Source: 12punto