Sector: Consumer Discretionary|Industry: Auto Manufacturers|Market Cap: $1.13T|Employees: 140.5K
Tesla designs, develops, manufactures, sells, and leases high-performance electric vehicles, along with energy generation and storage systems. Tesla sells its products directly to consumers through a network of showrooms, service centers, and charging stations, and emphasizes performance, safety, and technological innovation, including autonomous driving capabilities.
Total revenue for Q1 2024 was $21.30 billion, a decrease of $2.03 billion (9%) compared to Q1 2023. This was primarily driven by lower average selling prices due to price reductions implemented throughout the year.
Automotive sales revenue decreased $2.42 billion (13%) in Q1 2024 compared to Q1 2023. This decline was attributed to lower average selling prices and a decrease in deliveries, partially due to production disruptions at the Fremont and Berlin-Brandenburg factories.
Services and other revenue increased $451 million (25%) in Q1 2024. This growth was driven by increases in non-warranty maintenance, collision revenue, insurance services, paid Supercharging, parts sales, and used vehicle sales volume.
No information related to ESG initiatives was found in the provided 10-Q filing