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#NASDAQ:TSLA

Tesla Reports Q1 2025 Production and Deliveries Ahead of Earnings Release

Tesla produced 362,615 vehicles and delivered 336,681 in the first quarter of 2025. Energy storage deployments totaled 10.4 GWh. Production was impacted by the retooling of Model Y lines across all factories, though the ramp-up of the New Model Y is progressing well.

Model 3 and Model Y made up the majority with over 345,000 units produced and more than 323,000 delivered. Other models accounted for 17,161 in production and 12,881 in deliveries. Around 4% of total deliveries were under operating lease accounting.

Tesla will release full financial results on April 22, 2025, after market close, followed by a live webcast at 4:30 p.m. Central Time. The webcast and Q1 update will be available on Tesla’s Investor Relations website. The company emphasized that delivery and deployment figures are only part of its financial picture, which will be detailed in the upcoming earnings report and 10-Q filing.
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In 2024, Tesla achieved significant milestones, including record vehicle deliveries and energy storage deployments. The company reported a GAAP operating income of $1.68 billion in Q4, with a GAAP net income of $2.88 billion, including a $0.68 billion mark-to-market gain on digital assets. Non-GAAP net income stood at $2.68 billion for the quarter. Tesla's operating cash flow reached $4.88 billion in Q4, contributing to a total of $14.98 billion for the year. Free cash flow was $2.08 billion in Q4, totaling $3.68 billion for the year. The company's cash and investments increased to $36.68 billion.

Tesla made substantial investments in infrastructure, including AI training compute, which saw a 400% increase, and completed the construction of Megafactory Shanghai. The Model Y is expected to remain the best-selling vehicle globally in 2024. Tesla also focused on reducing the cost of goods sold per vehicle, which reached below $35,000 in Q4.

The Energy business achieved record gross profit, and Powerwall deployments hit a new high. Looking ahead to 2025, Tesla aims to improve its Full Self-Driving (FSD) technology, with plans to launch an unsupervised FSD option and the Robotaxi business in parts of the U.S., and expand FSD (Supervised) to Europe and China.
For the week ending January 19, China reported EV insurance registrations for various brands, with BYD leading the market at 55,000 units, followed by Tesla at 10,000. Li Auto and Xpeng recorded 9,500 and 9,400 registrations, respectively, while Xiaomi saw 5,600 units and Leapmotor registered 7,000. Zeekr and Aito trailed with 3,600 and 6,100 registrations.

Nio reported 4,700 total sales last week, a 145.7% year-on-year increase. Within this, the Nio brand accounted for 2,836 registrations, and its sub-brand Onvo contributed 1,913 units.
Cox Automotive reports that electric vehicle (EV) sales in the U.S. reached a record 1.3 million units in 2024, a 7.3% increase compared to 2023. The fourth quarter alone saw a 15.2% year-over-year rise in sales, highlighting strong demand driven by automaker incentives, competitive lease deals, and government programs. Despite Tesla's dominance in the EV market with the Model Y and Model 3 accounting for over 40% of total EV sales, the company experienced a year-over-year decline of over 37,000 units. In contrast, brands like General Motors and Honda significantly increased their sales, contributing to the market's growth.

The hypercompetitive U.S. EV market introduced 17 new models in 2024, with vehicles like the Ford Mustang Mach-E and Hyundai Ioniq 5 gaining traction alongside Tesla's lineup. The introduction of the Tesla Cybertruck also marked a notable milestone. Cox Automotive forecasts further growth in 2025, expecting EVs to comprise nearly 10% of total vehicle sales, driven by the launch of more than 15 new products, improved charging infrastructure, and sustained incentives. Although potential policy changes in Washington could slow this momentum, the market's expansion is expected to continue as buyers move quickly to take advantage of current benefits. (Source: Cox Automotive)
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Morgan Stanley has raised its price target for Tesla (NASDAQ:TSLA) stock from $400 to $430 per share, citing advancements in Tesla's autonomous driving program and artificial intelligence efforts. Analysts led by Adam Jonas also provided a bull case valuation of $800 per share and a bear case valuation of $200 per share. They emphasized the potential of Tesla’s autonomous vehicle business, projecting a mobility fleet of 7.5 million vehicles by 2040, generating $1.46 per mile in revenue with a 29% EBITDA margin. While Tesla may debut an unsupervised autonomous vehicle fleet in city settings as early as next year, widespread deployment is expected after 2030.
Tesla shares rises after Morgan Stanley upgraded price target to $430