Tesla, quarterly revenues drop for the first time since 2020 to 21.3 billion dollars (-9%). Profits down 55%

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Tesla’s quarterly revenue fell for the first time since 2020. Tesla’s profit and revenue fell 55% and 9%, respectively, in the first quarter of 2024 as it delivered fewer electric vehicles to customers amid slowing demand and intense global competition. The automaker reported a profit of $1.1 billion, while revenue was $21.3 billion, compared to $23.33 billion a year earlier (forecasts were around $22 billion).

The world’s most valuable automaker previously reported a drop in revenue in the second quarter of 2020 as the COVID-19 pandemic hampered production and deliveries.

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