Delivery volume is less than expected, the world began to lay off staff, forced to reduce prices impulse, into 2024, Tesla’s situation can only be described as “pressure mountain”.
As everyone knows, just yesterday, as the US new energy car company officially announced its first-quarter results, there is no doubt that it once again ushered in a merciless “door black”.
Looking at several key figures, total revenue was only $21.
301 billion, down 9% from a year earlier and down 15.
4% from a month earlier, falling short of Wall Street’s estimate of $22.
22 billion.
To make matters worse, the ability to make money, which was once proud of, is also declining rapidly.
For the whole of the first quarter, Tesla’s operating profit was only US $1.
171 billion, an exaggerated year-on-year decline of 56%, nearly halved and 43.
3% lower than the previous quarter.
Gross profit fell below the $4 billion mark to $3.
696 billion, down 18.
1% from a year earlier and 16.
7% month-on-month, the worst level in nearly two years.
At the same time, gross profit margin continued to fall, at 17.
4% in the first quarter, a further 0.
2 percentage point lower than in the previous quarter.
In the crucial net profit column, Tesla had only $1.
129 billion in the first quarter, down 55% from a year earlier, an astonishing 602% drop from the previous month, and the worst performance since the second quarter of 2021.
In contrast, free cash flow in the first quarter was only negative US $2.
531 billion, a year-on-year decrease of 674% and a decrease of 222.
6% from the previous quarter.
In addition, Tesla’s cash and cash equivalents were $26.
863 billion at the end of the first quarter, down 7.
7 per cent from the previous quarter.
To sum up, if we have to give the above report card a key word, it will definitely be “thunderstorm” or “surprise”.
Admit it or not, the protagonist of today’s article is really experiencing another dark moment.
However, it is inconceivable that according to the common sense of Tesla’s hip-pulling, it will certainly trigger a sharp fall in the stock price and a decline in the market value.
After all, capital markets have slapped it in the face throughout 2024.
But this time, the situation seems to be far from as bad as imagined, and even there has been a slight rebound.
The root cause is that during the earnings call, Musk, as the helmsman, finally remembered his identity as CEO of Tesla, and made people see the hope that the American new energy car company would hit bottom and rebound.
For example, the opening sentence that set the tone: “We think the second quarter will be much better.
” For example, in response to rumors that the low-cost electric car project has been cancelled, we plan to start producing new models by the end of this year or early 2025, earlier than the second half of 2025.
For example, another spoiler Tesla is comprehensively increasing investment in artificial intelligence.
“by the end of this year, we will have 85000 Nvidia H100 GPU for training artificial intelligence, because we are an artificial intelligence company.
” For example, a determined statement about autopilot: “even if aliens kidnap me tomorrow, we still have to solve the problem of autopilot.
” For example, confirming that a FSD license is being discussed with a car company, “We did have a conversation about providing them with self-driving computers and cameras and authorizing them to use software.
” Another example is the speech near the end of the earnings call, “We have just experienced a long period of prosperity from 2019 to the present.
” Now is the time to restructure the company to achieve the next phase of growth.
” Thus, combined with all kinds of information, we can feel Tesla’s determination and ambition to get back on the right track.
Of course as a bystander I still want to mention that throughout the legendary growth of this American new energy car company it is indeed an excellent trailblazer.
Almost on its own, it tore a hole in the hinterland of traditional fuel cars, and let the wave of electric transformation sweep the global auto market.
But as the saying goes, “it is easier to fight than to defend.
” To the need to adhere to and expand the base of the new stage, Tesla’s shortcomings and disadvantages and even inferiority, is slowly showing the anti-phagocytic effect.
At present, its state is very much like that of a young man who is growing up.
The bones of his limbs have basically developed, and if he wants to become stronger, reducing fat and increasing muscle has become the only way.
And fitness people must understand how terrible it is to pay the price, the sweat and the difficulties to overcome in this process.
In short, Tesla, who encountered “opening the door black”, is doomed to be full of thorns and challenges in 2024.
Homeopathy, with a little overview, looking at all the new energy car companies that only bet on the pure electric technology route, even the “leader” is in decline, how can life be easy for everyone? Anyway, it is foreseeable that the knockout stage will become more and more cruel, and all anyone can do is to grit their teeth and put up with everything they have.
The following days will be a hell of a difficulty for every participant.
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