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 https://ir.tesla.com 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: https://ir.tesla.com
Webcast: https://ir.tesla.com (live and replay)

The webcast will be archived on the company’s 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: https://www.businesswire.com/news/home/20250129018824/en/

Investor Relations Contact:

ir@tesla.com

Source: Tesla