Tesla sees biggest drop in revenue in over a decade

Elon Musk's company Tesla has seen its biggest drop in revenue in over a decade by nine percent, according to the company's recent first quarter earnings report. This comes after the company faced several layoffs.
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#tesla #elonmusk #nbcnewsnow

[@HelloAndyTung]

He doesn’t help himself by being a complete egotistical and petulant child. That definitely doesn’t help when there is so much competition for a limited customer base as well.

[@kriskalpa]

I find it astounding that people make such infantile criticisms.

[@guybeingaguy]

Remind you of somebody else. By 2030 he’s probably tanking Space X as his final act.

[@TravisDoesKayakFishing]

@@kriskalpa You must know how divide America is over politicals because all sides are stupid. This guy has alienated people in everyway possible.

[@guybeingaguy]

@@kriskalpaOr present you with logical facts to explain how they came to their conclusion? Facts are facts, numbers don’t lie and 2+2=4. Who are “they” is what I always wondering. They say, they think. We never hear who “they” are. Trump flailing around news articles to the press that exonerate him. Seems to me he should enter them into evidence then.

[@altair4849]

​@@guybeingaguy the original comment has no facts or numbers 😂 just insults

[@tcsmagicbox]

Tesla is facing intense competition, not just at home but also abroad.

[@tycute21]

Cyber truck falling apart and made in the USA that’s embarrassing.

[@nemesiszz]

Boeing as well

[@heythave]

Go drive one before you vomit untruths.

[@COTH23]

​@@heythaveNo one can drive those dumb stupid looking so-called trucks since all 3,878 have been recalled and all orders have been put on hold; because of the accelerator pad malfunction. Who could ever trust them to properly fix the accelerator pedals? Their management and supervisors and even their quality control did not catch that someone had made an 'unapproved change' by adding lubricant (soap) to the accelerator pedal cover for all 3,878 cybertrucks. That is what caused the pedal cover to slip off and then become wedged in such a manner which kept the accelerator pressed down at full throttle. You're taking your own life in your hands when dealing with that nonsensical company.

[@heythave]

@@COTH23 It’s already delivering again. Which car company hasn’t had a recall? I sense such animosity from you about Tesla and from what you said about the cybertruck, you have not driven one either. Breathe, ok, breathe. Everything’s gonna be alright.

[@COTH23]

@@heythave Oh please, just calm yourself down; so what if the dumb truck is on the road again. Nobody has to take a breath and breathe over this nonsense. We all just love sticking it to you Tesla fans for all it's worth. Something else will go wrong with that hideous contraption; as always. It is foolish to own a vehicle which is nothing but a highly overpriced utility milkfloat. Of course, it's your money to do with as you wish. Elon will always be grateful to you for your support. Maybe he will even send you a Christmas card of thanks. Remember not to run it through the car wash or low flooded areas; so as not to void your warranty. Happy hours on end charging that monstrosity! Remember to always pack a big lunch while waiting forever; in order to save money on eating out.

[@nicholasstocker8864]

Simply put, now that other car makers are making EVs that are just as, if not, more desirable than Tesla’s, Tesla is not having the EV dominance that it once had. Hence why the layoffs and profit drops.

[@theclueguy3388]

Well that and elons twitter rhetoric are scaring buyers off. Elon is a part time CEO.

[@user-rx9rh1mq4o]

You really don't follow what's really going on...ok..do you know every car make in America except tesla is selling ev as a loss...they don't make any money on their ev when you factor what it cost to make it...tesla has just developed an unboxed approach to producing a vehicle..this method is cheaper to make a car...so profit margins will increase in time...soon tesla will put its robots in all its factories to replace workers..that will increase profit margins..and now that battery manufacturers don't have a big demand from other car companies, tesla will buy its batteries for a cheaper price...if BYD comes to America, it's hame over for the legacy automakers..only tesla will survive

[@user-rx9rh1mq4o]

Also they layoffs where going to happen anyway..tesla is trying to replace human workers with humanoid robots.. So those people were going to loose their job anyway...

[@thesadboxman]

@@user-rx9rh1mq4o There's no use explaining to these sheeple. They talk about EVs as if even tried one.

[@kylekorona]

@@theclueguy3388yummy

[@mdm6098]

There's a better selection of EVs now.

Not only that EV in general are not selling along with the rest,this is across the board..

[@jrighteous1984]

And they never change the style of their vehicles not to mention it took them like 5 years to finally make the cybertruck which is nasty compared to the competition

[@philpilkington]

I'm no fanboy but with Tesla's maturity in design, repair, software, and charging network I think the main reason to go elsewhere for an EV would be styling.

[@sarabeth8050]

There's also massive demand for hybrids and PHEVs. Go to any Toyota dealer and you have get on a waitlist for those cars. By contrast, in stock Teslas are marked down like crazy. Nobody wants them now.

[@desmondjefferson2127]

And the ALL look better. Tesla has never had a competent car designer. They look like amateur car designs

[@Mattius08]

These brands are competing for customers that don't exist or are few and far between! 😂

[@Brakdayton]

Well that’s nonsense.

[@meep2253]

He should have kept his mouth shut to protect his company 😂

[@stephenamos5473]

why and be a sheep???

[@meep2253]

@@stephenamos5473 I think the only sheep here is yourself because you’re trying to defend a person who would have their security team remove you for being a nuisance. 😂

[@TheMagicJIZZ]

​@@meep2253the other guy is right Because you're spending your time attacking him To be leader means to lead and have opinions

[@meep2253]

@@TheMagicJIZZ then obviously based on your comment we know you’re not a leader because you don’t have anything valuable or original to say. You’re here defending a random person online like a follower.

[@taurussho86]

​@@TheMagicJIZZno, he isn't... Elon has proven his riches came from the people around him. Did you not forget he gets fact based answers from random responses in X threads? Who in their right mind would you can get unbiased, straight forward facts from randos?

[@noel6058]

The peak at Tesla has ended. EVs will be destined to fail fairly soon.

[@adrenalineadrian4166]

So no roaster ? He’s responsible for much of his own downfall.

[@Hubtones1]

I think people are simply realizing the value of electric vehicles. It may be good as a secondary 🚗, but with the price how many can afford to have a Tesla as an added commute option.

[@jrighteous1984]

Yeah look how long it took for them to finally release the cybertruck , like 5 years and they don't even bother to change their current models , they look the same for the past 10 years ..

[@veganpotterthevegan]

​@Hubtones1 electric cars are ideal for the mass majority of car owners. Elon Musk is a turd though and a lot of people don't wanna buy a car from him. Plus Teslas are terrible...electric cars aren't

[@worldtraveler7806]

Liberty and free speech has more importance than money for him! If folks want to continue paying additional tax on gas that’s also a good thing 😊

[@veganpotterthevegan]

@worldtraveler7806 that's because he has so much money now. He's a hypocrite. Constantly whining about the govt/taxes when the government rebates are the only reason Tesla didn't fold and the only reason SpaceX is what it is.

[@dtxgmoney]

The Cybertruck was a mistake. A meme vehicle. Elon needs to shed his hubris and admit he's not infallible. I'm sure some of this decline is a response to him as a leader of the company. He should go radio silent for a while and help repair the damage he's done to the Tesla brand.

[@Headchopperr]

100k for Cybertruck is nonsense.

[@randomsh-t917]

When will cybertruck no long be a mistake? 100k unit, 200k units, 300k units, 500k units

[@joparkcat]

CyberCar.

[@dtxgmoney]

@@randomsh-t917 100k means they have to sell 96k more 😂

[@sws212]

@@randomsh-t917 They recalled all ~4,000 trucks sold literally this week, the rest are still on backorder. 4k trucks in the amount of time it's been out is a joke for any automaker much less than the one pretending it's worth more than the rest of the industry.

[@siriusgd4753]

Elmo wants to surpass the orange toddler as the biggest loser to destroy companies.

[@vaderthekittenchannel1979]

AGREED! 💯

[@BobSmith-dk8nw]

One thing effecting sales - might well be - the storms of last winter and the difficulties Tesla owners had keeping their vehicles charged in such cold weather - cold - having a negative effect on Batteries. There were a number of news reports of Electric Car Owners abandoning their electric vehicles and going back to Internal Combustion Vehicles. .

[@Nicolas-uu3jr]

i also said what I wanted to say and my account got suspended on X 🙂

[@thuydoan7496]

Tesla needs to close shop soon. EV's are no longer selling due to the batteries. Replacing a battery is far too costly to ever own an EV.

[@ViperGills]

“But…But..But muh Tesla” 😂 dumba_ses made their entire personality “i own a tesla”. Well i hope you saved all the gas money you bragged about, and put it towards your $32,000 battery

[@seinundzeiten]

@@ViperGills I wonder if Tesla drivers save 32,000 in gas money?

[@ViperGills]

@@seinundzeiten hey, you let them tell it, they can save enough for another tesla! I know I’m beating a dead horse, but let me enjoy

[@3x3mm]

Better come up wirh a new gimic

[@gedeo]

🤔 flying EV cars that also float. by Q3 2026

[@mrparkerdan]

humanoid robots that can do housework and babysit children.

[@Paul_425]

At this point, tesla should consider going into designing super charge grids for EV vehicles. The gas station of the future 😅

[@maggotman2024]

$50 billion pay package fully justified!

[@edwardroche2480]

Maybe Tesla owner Elon Musk should consider who he endorses, and keep his political preferences private. Sales are no doubt dropping due to his political opinions.

[@fyeofyeo402]

For Robotaxi, are they going to try to eliminate people from earning a living by working at Uber and Lyft? In NYC to be fair, it needs to buy those Taxi medallions. We need to start looking at the social consequences that some of these innovations bring.

[@TheMagicJIZZ]

You don't need those for self driving

[@AngelinaCruz357]

How many contracts are under warranty?

[@cybermercsix3171]

Gordon Johnson creaming his pants. He better enjoy it while he can because Tesla is the only real player in robotaxis.

[@mikafiltenborg7572]

Gordon Clown Johnson aka mister ZERO star analyst is a funny lying clown 🤡👍😂😂🤣🤣😆

[@joparkcat]

robotaxis 😂🤣😅

[@stevenboddy4232]

How is it the only real player?

[@cybermercsix3171]

@stevenboddy4232 All other "self-driving" competitors are basically fake-solutions in that they're pre-mapped (think "on rails" video games that only pretend to be "open world") and/or laden with too much tech that will only result in multi-sensor data-conflicts (Elon even warned competitors this would be a dead-end solution because he already tried it). Tesla is the only self-driving solution that is training AI to drive on roads that have never been traveled before (no pre-mapping necessary). This is why some argue Tesla's AI is the best in all AI-categories.

[@rt-a2005]

If you own Tesla, make sure you don’t get in any accident

[@mikafiltenborg7572]

😂😂😂😂 Tesla is the SAFEST car on the road ‼️‼️

[@rt-a2005]

@@mikafiltenborg7572 your gonna have to wait ages to get your car fixed

[@mandelm2001]

It should be a rule that analysts have to drive FSD themselves before they can report on Tesla.

[@montramedia]

This report is a disgrace

[@Thats_E]

Everyone is making electric cars now. That was the only thing Tesla had going for it. Now what’s the point

[@rj8u]

Tesla even included the Tesla FSD as a revenue for which the FSD is not even fully realized along with regulatory incentives just to make the earnings looks better 😂🙈🤪 what a kool aid.

[@techtinkerin]

Make the Tesla equivalent of a ford fiesta so normal people can have one

[@heythave]

It’s coming this August 8, 2024. Watch for the announcement.

[@stephenamos5473]

Thats a good Idea, thats what Henry Ford did, produced a car that the average person can afford

[@L3nny666]

@@heythave yeah sure it's coming in august lol.

[@martinrobinson9061]

There are a lot more better options and better looking electric vehicles than Tesla.

[@tycute21]

Not only that Tesla interior very low quality build and cheap looking than other competition like Audi, Mercedes, Genesis and Lexus…..

[@desmondjefferson2127]

Better looking was my whole issue with Tesla, they have always looked horrible IMO

[@desmondjefferson2127]

​@@tycute21that was why after a test drive, I went Merc, because the Tesla felt like a toy car

[@RealDJDXM]

Does anyone know what that guy said about the Cyber truck? 1:28

[@CanadianIndian88]

No shi*, people aren't paying 50K for a econo shitbox anymore? Shocking.

[@antwalk7772]

"So be it" he said 😂 government got some bailout package 😢

[@luiscastillo7009]

If he could solve the problems with charging, charging reliability, that would be the game changer...Buying a car and not feeling confident you can drive it far without wasting too much time or encountering issues, then he would see much wider adoption. The only people who has bought Teslas are rich people who can install expensive charging stations at home and have the luxury of time for charging elsewhere

[@desmondjefferson2127]

No, I think the issue with cheap batteries replacements is the biggest issue. These companies should have to have a recycle and replacement plan for all these batteries. It's a huge wasted to just junk these cars and batteries after a few years

[@benjaminhotra]

I will buy Tesla because of the FSD. The future is no one wants to waste energy and time driving on the road. We all want to be more productive.

[@danielszymanski-jw5kq]

Government gave chevy ford Chrysler billions for evo technology! Every one hating on the guy that didn't get taxpayers money to keep them going?? Sad

[@Starship007]

Tesla is a motor and energy company. It also specializes in AI/FSD. It builds own superchargers, hardware/software and proprietary chips. With NACS adopted by other manufacturers, this pushes more Tesla tech. Tesla builds own batteries for cars and the Grid. It’s recent FSD is truly level 3. Tesla is not just about its cars. I would not be surprised if Starlink WiFi ended up in cars. Wait til VI becomes AI in cars. Actual interaction with your vehicle with voice.

[@jmed753]

They been selling the same car for 10 years time to change their lineup

[@georgelewis8831]

FSD 12.3 Works! Stop the FUD! Cybertruck recall is already fixed!

[@MedicatedMemory]

Was it Gates that shorted the stock? Or is that old news?

[@Blankarte]

Oh but "Ironman" made fun of BYD in 2011...

[@user-xt7wb5dh5p]

Good sign in theory hours report lose over half evaluation or close

[@mandelm2001]

No mention of the brand new Model 3 Performance that does 0-60 in 2.9 seconds and costs $44K.

[@prateektayal6895]

Tesla board of directors should fire Elon Musk if they want their betterment, and more importantly the benefit of everyone else

[@goldeneastgun]

Robo taxi's based on the same tech that Apple said does not exist, yet no one ever mentions this. Even if Apple is wrong, how long till level 5, then how long for build out of taxi infrastructure, then how long for actual launch and working out the kinks. Not in my lifetime.

[@benjibyte8612]

From gigafactory to giveupfactory in a jiffy..

[@MrWallace484]

Remember how Justin Buber and lady gaga kept endorsing cyber truck just for clout, I remember

[@Sloimer]

Party is over for this stock.

[@L3nny666]

whenever elon says something is going to happen at a specific point in time, does anyone still trust him? because he has a stroooong track record of just blatantly lieing about stuff like this... "oh yeah, next year comes this and that..." yeah sure, elon...

[@COTH23]

@heythave Good. Then, according to your statement, there was never any need for you to respond from the start.

[@itssk5408]

Elon is not the owner of Tesla, hes a one out three owners. They just don't do good in the spotlight like Elon. Everyone crediting him to be a genius is and will be wrong. He credits himself with other peoples work, I'm really surprised everyone ate up his character. Not our Tony Stark.

[@TremezzoLake]

I think it may be a sign of people spending less..

[@pm1104]

Electric cars are vastly overpriced …….that most people can’t afford….and the batteries are too expensive to replace….its a non starter to start with ! 😮

[@user-sh9fw2pf6i]

There are way better options out there then tesla for evs cheaper and better desings

[@donaldduck5731]

Amazing tech, EVs are the future, everyone I know wants an EV, just one with indicator stalks, a driver display and a gear select.

[@chrissanders541]

its up 18 bucks after hours

[@Brakdayton]

Capitalism in action. Of course capitalists hate it.

[@pravusnex]

The number of exaggerated claims and half truths in this report are unconscionable. This is a hit piece or display of complete incompetence by NBC if you're being generous. Tesla is in an incredibly strong position. They are doing some of the best engineering in the world and NBC makes it sound like they are on the verge of collapse.

[@velocityacoustics]

Best engineering in the world huh? Like that gas pedal getting stuck? Or the wheel covers destroying the tires? That's some good engineering right there.

[@thesadboxman]

@@velocityacoustics Name a better automotive engineering company that has had less recalls.

They want that stock what a better way of dropping that before the dump..

[@xila464]

Why would the CEO be trying to pull $55 billion out of the company instead of increasing his investment if he himself thought his own company had a bright future?

[@pravusnex]

@@velocityacoustics did you want to have an actual discussion or just throw out insults? Please name one car company that hasn't had a recall in the last 5 years? They move incredibly fast and the pedal issue is fixed. The number of vehicles impacted was very small. I have owned a Tesla's since 2015. I owned many high-end cars before that. Tesla is so much further ahead of any other car company it's a little embarrassing. I'm more than happy to point you at sources that confirm actual research. Not just headlines. Let me know

[@saraceno1979]

We just bought an EV, Tesla was out of our thoughts because of Ellon and his political ideas. That’s all. Comment as much as you want. We wont read them.

[@thesadboxman]

Thank god! Good luck with charging too! You wouldn't want to use Tesla's extensive supercharger network otherwise that will support bad man Elon Musk.

[@vaderthekittenchannel1979]

I don’t blame you!

[@lordy1952]

So be it... Sounds good

[@endthegenocideingaza]

I was considering Tesla, but because I don’t like Elon Musk I went with Porsche ❤

[@unkown34x33]

I'm not feeling sorry for Elon

[@jonathantrujillo3044]

This is nothing wait till Musk pulls out of Fremont and moves to Monterey Mexico you wait and see it’s coming .

[@Nite2012Mare]

CHEAP. Teslas have the thinnest paint of any car. 🙄

[@nemesiszz]

Every business has up's and down!

[@Rickets1911]

Tesla’s future was abandoned when they short cut the design on that horrible truck.

[@hphu17]

Pay back better PAL

[@Fous1978]

OMG, you understood nothing!!

[@pierceaero3005]

Chevrolet announced a Silverado that charged about twice as fast on the same day that Musk layed off Texas workers. He made them run faster they made them charge faster. Technological advancements appear to be the playing field in the competition for the near future. Emergency room doctors cannot afford automotive downtime if your life is on the line. Just ask doctors that worked E.R.s during the oil embargo. Doctors drive Silverados. The competition for technological advancement will likely serve the consumer. It's on. 😊

[@pierceaero3005]

@@user-zm6qj9cz7b The "fantasy" happened the same day. Tech talks, fantasy walks.

[@thatsjarrod1965]

Best news I've heard all week

[@Saigon1969]

There ‘re better Ev and better designed then Tesla. Tesla it a price if S.

[@Sabundy]

So...... The "robo taxis" are as big a lie as the "Hyperloop". The Hyperloop was nothing more than a one lane tunnel driven by a taxi driver. Amd now his hyped robo taxis aee just uber 😂😂😂. How does anyone still take this guy seriously??

[@COTH23]

​@heythave No one can drive those dumb stupid looking so-called trucks since all 3,878 have been recalled and all orders have been put on hold; because of the accelerator pad malfunction. Who could ever trust them to properly fix the accelerator pedals? Their management and supervisors and even their quality control did not catch that someone had made an 'unapproved change' by adding lubricant (soap) to the accelerator pedal cover for all 3,878 cybertrucks. That is what caused the pedal cover to slip off and then become wedged in such a manner which kept the accelerator pressed down at full throttle. You're taking your own life in your hands when dealing with that nonsensical company.

[@Rosewood185]

Tesla is the future, nah sayers will miss out on an opportunity to have a piece of a brilliant company and future!

[@mikafiltenborg7572]

🤑👍 Agree 100%! 💰🎉🎉

[@9bytehub]

The future starts with making affordable ev though…tesla is priced for the privileged.

[@jojothetasmaniansassmonkey8866]

maybe, maybe not. The Wright Company never made it that big in the aircraft industry despite being responsible for its creation/existence.

[@leok7193]

@@9bytehub they're actually reasonably priced, especially with 7500 rebate. what NEW mid size SUV do you compare Model Y to that's significantly cheaper, before even factoring in maintenance? I'll wait

[@9bytehub]

@@leok7193 Chevrolet Bolt EV, Nissan Leaf, Hyundai Kona Electric, Kia Niro EV, Volkswagen ID.4. Lol, Theres way better options out there that are ev where the price actually makes sense

[@mrparkerdan]

Mr Musk, if robotaxis become a reality, why would I even need to buy a car at all?

[@DCBJ2011]

Exactly...

[@heythave]

You don’t. But if you want a machine to earn some money for you, you can buy a few of them and generate some income.

[@user-nc2qj2jc5q]

Musk fan boys hes the best 😂

[@severusbernard7404]

if Tesla gives me a free car, i’ll make them profit by buying big batteries 😃

[@InesElm-dj9tn]

😂😂😂😂😂😂😂😂😂 Tesla is overvalued

[@fokuz02]

I thought about buying a Tessi. Elon Musks mouth stopped me. Shut up and build cars...

[@tambulee]

So be the consequences 😂

[@Starship007]

All car manufacturers both EV and gas are hitting hard times due to USA high interest rates, inflation, and high debt. Many dealerships overstocked with cars, Lot Rot. Chinese tsunami of cheap EV’s hitting European shores. China building in Mexico like Ford and GM to use NAFTA to allow entry USA Market avoiding Trump era Chinese car tariffs. Stellantis bought over a billion dollars of share Chinese leap motor EV’s to rebadged to sell in Europe.

[@juanguillermo1283]

Drop 1 billion

[@GtheBarber]

Fantasies are all over the road and in my neighborhood

[@PerfectoKiss]

That is why Tesla and Muck are consistently sued!

[@fredrik3685]

Sooooooon a small car...

[@Kai-kl6fe]

Too bad people form an opinion after looking at misleading hit pieces like this instead of listening to an actual earnings call or looking at the numbers. Most of this "news article" is complete nonsense. Also I can't belive they still put Gordon Johnson on air. Dude is #8,152 out of 8,792 Wall Street Analysts with a quarter star rating, 56% success rate and a whopping -6.20% average return. Basically flipping a coin gives you better returns than listening to this man's advice.

[@RicardoK-ng5ch]

With a innovative company like Tesla, I wouldn't count this as a doom and gloom end all forecast. The market is down across the entire auto industry not just Tesla. Looks like haters just want the guy fail, its crazy.

[@gammagogeta]

I love electric car, but the CEO is a B, if he wasn't such a B lol

[@redMaple_QC]

Robotaxi LOL. Tesla has the worst autonomous tech in the industry.

[@A3Kr0n]

Who wants to buy a money pit?

[@Aaa-ct4xb]

You guys hate him 😅😅

[@vaderthekittenchannel1979]

I do!

[@junielesparas8018]

File bankruptcy

[@guybeingaguy]

Everything Elon touches dies. You watch.

[@Seanw-ij7yx]

Byd>

[@heythave]

The black guy at 1:12 is an uninformed person and has said some not intelligent things. Why didn’t anyone say that Tesla made a PROFIT this Q1 despite challenges like terrorists attacking the ship that carried its cars? Or that there is a slow down among all car manufacturers? Or that Tesla is the only car company that makes a PROFIT on its EV cars? Before anyone trash Tesla cars, go test drive one. And test drive the full self driving feature.

[@johnj2179]

Hybrid cars all the way💪

[@doca8792]

Buy a Tesla please, my V-8 cars need your gas.

[@krustycrabbb8736]

Tesla is going to hurt even more since he cancelled the model 2.

[@albertoserrano67]

That 10% increase are those buying cheap hoping the stock will rebound

[@COTH23]

​@heythave Getting a little too hot under the collar for you, eh? The truth does hurt. Btw, I don't take instruction from you.

[@martinklanecky7281]

😊!!

[@josephsmith149]

lets hope musk goes bust

[@brianengley2171]

🧐