Tesla's Q1 revenue fell 9% to $21.3B, with automotive revenue down 13% due to price cuts.
Tesla's Q1 revenue fell 9% to $21.3B, missing expectations, as automotive revenue dropped 13% due to price cuts. Despite the weak results, Tesla's stock soared. CEO Elon Musk focused on future products like full self-driving (FSD) technology, envisioning a future where leased Teslas form an autonomous ride-sharing business. Tesla's future growth may increasingly rely on FSD tech as EV sales growth stalls.
April 27, 2024
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