Tesla's Q1 Shock: Auto Sales Down 20%, Net Profit Plunges 71%
Hey readers, Tesla just dropped its Q1 earnings report , and the numbers are... well, not what investors wanted to see. π Despite all the buzz around Cybertruck, Full Self-Driving updates, and AI hype, the cold hard numbers paint a different picture — and it’s shaking up the EV market. π The Numbers at a Glance π» Automotive Revenue : Down 20% year-over-year π₯ Net Profit : Down a staggering 71% compared to Q1 2024 π¦ Inventory: Still elevated , signaling slower-than-expected demand π Global Deliveries: Missed estimates, especially in China and Europe ⚠️ What’s Causing the Drop? Aggressive Price Cuts Tesla has been slashing prices globally to defend market share Result? Margins are thinning out — fast. Slower EV Demand Global EV sales growth is cooling , especially in key regions like Europe and China Rising competition from BYD, Hyundai, and even legacy automakers is squeezing Tesla’s lead Delayed Model Refreshes Expectations f...