In the first quarter of 2025, Elon Musk's Tesla lost 20% of sales. This was reported by CNBC, reports UNN.
Details
The company's total revenue decreased to $19.34 billion, while a year ago the figures were $21.3 billion. Automotive revenue fell to US$14 billion – last year the figures were US$17.4 billion.
The company cites updates to production lines for the release of a new version of Model Y, a decrease in the average selling price, and numerous discounts as reasons for the fall. Also, Tesla was not spared by the customs policy of the Donald Trump administration – this may significantly complicate access to imported components.
In addition, Tesla faced competition from cheaper Chinese electric car manufacturers, and is also losing ground in the autonomous taxi segment, where Waymo is the leader.
Despite the drop in sales revenue, Tesla plans to launch its robotaxi service in Texas as early as June this year. In addition, they plan to establish pilot production of humanoid robots in California.
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