Tesla Alerts Wall Street of Potential Decrease in Vehicle Sales for the Current Year

24 janvier 2024

Tesla Inc. issued a cautionary note to investors late Wednesday, revealing the prospect of a reduction in vehicle production for the current year compared to 2023. This strategic shift aims to prioritize the development and launch of Tesla's next-generation electric vehicle at Gigafactory Texas. The disclosure prompted a significant after-hours downturn in Tesla's stock, with a decline exceeding 3%.

The company conveyed this message in a letter to shareholders accompanying its fourth-quarter results, stating, "In 2024, our vehicle volume growth rate may be notably lower than the growth rate achieved in 2023, as our teams work on the launch of the next-generation vehicle at Gigafactory Texas." Tesla emphasized its current position as being in the midst of "two major growth waves," indicating a transitional phase in its strategic trajectory.

Despite falling short of fourth-quarter earnings expectations, Tesla reported robust financial figures, with earnings reaching $7.9 billion, equivalent to $2.27 per share, compared to $3.7 billion or $1.07 per share in the corresponding period the previous year. Adjusted for one-time items, the electric vehicle maker earned 71 cents a share. Sales also experienced an uptick, rising to $25.17 billion from $24.32 billion a year ago.

Analysts, however, had anticipated slightly higher adjusted earnings of 73 cents a share on sales of $25.6 billion, as per FactSet polling data. Despite these financial details, Tesla's stock faced a challenging start to the year, registering a decrease of more than 16% this month. In contrast, the S&P 500 index saw gains of 2%. Nonetheless, over the past 12 months, Tesla's shares have displayed resilience, surging by more than 44%, outpacing the S&P's gains of around 21%. This complex landscape underscores Tesla's dynamic position in the market and the strategic considerations shaping its future growth.