Following a rocky start to 2025, Tesla’s Q1 production and delivery report highlighted the declining demand for its vehicles in key global markets. The company’s full Q1 results, published on 22 April, then confirmed a major struggle is underway: automotive revenues fell 20% year-on-year, from US$17.4m to US$14bn. Profit was not only down 71% to US$409m but would have been wiped out without the US$595m of regulatory credits sold.
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