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 the six months ended June 30, 2024, reached $46.80 billion, marking a 3% decrease compared to the $48.26 billion in the same period of 2023. This decline is attributed to strategic price reductions and attractive financing options implemented to maintain competitiveness.
Automotive sales for the six months totaled $34.99 billion, down 11% year-over-year. This reflects the impact of lower average selling prices and production adjustments, including a production ramp for the updated Model 3 and shutdowns at Gigafactory Berlin-Brandenburg.
Despite the revenue decline, Tesla reported a net income of $2.61 billion for the six months ended June 30, 2024. This is a positive indicator of the company's financial health and operational efficiency.
No information related to ESG initiatives found in the provided 10-Q excerpt