Profit Tesla fell sharply in 2024

Tesla is struggling with sales due to fierce competition on, among other things, the large Chinese market and also a less strong demand for fully electric cars in the American home market.

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According to Tesla, the net profit amounted to more than 7 billion dollars, a decrease of 53 percent compared to 2023. At the beginning of this month, Tesla reported that 1.79 million cars had been sold last year, a slight decrease compared to the year before. To stimulate sales, Tesla has come up with price reductions and that affects profitability.

Tesla CEO Elon Musk has said that he expects sales to rise by 20 to 30 percent this year, partly due to the arrival of a cheaper model. That car should be revealed in the first half of this year.

Musk was closely involved in the election campaign of US President Donald Trump. The richest man in the world will also lead an advisory board for Trump to make the government more efficient, called doge, full Department of Government Efficiency. This can be translated as a ministry of government efficiency. It is not a real ministry, but a kind of taskforce that will give advice about the slimming of the government.