The report disappointed investors. Shares collapsed to $182.63 apiece.
Shares of Tesla on the American exchange Nasdaq became cheaper by 12% after the publication of the report for the quarter. This is reported by the data of the site.
Earlier, the company of Ilon Musk reported that revenue from the sale of electric cars grew by 1% and warned that the rate of growth of production volumes may be lower than in 2023.
The report disappointed investors. Shares collapsed to $182.63 apiece. That's a record decline over the past year.
Tesla reported net income of $2.48 billion, investors were expecting $2.61 billion.
Adjusted earnings per share were $0.71 instead of the expected $0.73. The company's revenue was $25.17 instead of $25, 87 billion. For the year, it grew 3%.
The head of the automaker said that if Chinese companies are not restrained, they will take over the global market in the near future. Musk said that it is necessary to introduce trade barriers, tariffs to prevent PRC brands from becoming market leaders.
Earlier, Tesla lost to rival BYD for the first time. Musk's company sold 484.5 thousand cars in the last quarter of 2023, while the Chinese carmaker sold 526.4 thousand.