Tesla Inc.’s most recent quarterly vehicle production volume came to nearly 450,000 units. Tesla's production level in the first quarter of 2023 decreased by some 21.1 percent quarter-on-quarter and by approximately 16.3 percent year-on-year. Growth amid crisis It was anticipated that the coronavirus outbreak in China would affect the productivity of Tesla's Shanghai factory. However, Tesla's output reached almost 185,000 vehicles in the first two quarters of 2020. As the virus began to spread to the American continent, work at the U.S. factory in Fremont, California was stopped. The plant's reopening in May was met with criticism but contributed to the over 82,000 units that were produced in the second quarter of 2020. Tesla witnessed production growth in all subsequent quarters. The company's output level reached a new record in the fourth quarter of 2024. Leading the electric vehicle market Tesla produced over 1.77 million vehicles in 2024, a 3.9 percent decrease on the company's stellar 2023, which had been driven to a large extent by Model 3 and Model Y production and sales figures. The Tesla Model 3 was the world’s best-selling plug-in electric vehicle in 2020 and 2021. In 2024, it faced tough competition from other Tesla models, including the Model Y and the refreshed Model S Plaid, and came third in the bestseller ranking.

Revenue generated by Tesla increased to around 97.7 billion U.S. dollars in the 2024 fiscal year, with the United States spearheading demand. The U.S. generated about 47.7 billion U.S. dollars in revenue for Tesla, just over 48.85 percent of the overall total. This compares to revenue of approximately 20.9 billion U.S. dollars from sales in China, the second-largest revenue generator. Tesla’s industry rankings In recent years, General Motors and Toyota held the highest percentage of market share among vehicle manufacturers in the United States. Despite holding only a small percentage of the market, Tesla excels within the electric vehicle segment. Tesla’s Model Y sold the largest number of all-electric vehicle units globally in 2024. Tesla company overview Tesla is an electric vehicle company that was founded in 2003 in the United States. The company also manages some energy generation and storage services for its consumers. Tesla’s electric vehicles are produced in Fremont, California in the United States. A large proportion of Tesla’s revenue streams is derived from automotive sales (excluding leasing). Tesla also invests in research and development: Tesla’s R&D expenses peaked in 2024.

Tesla delivered approximately 336,700 vehicles to customers in the first quarter of 2025. Deliveries of other models, including the Model S, Model X, and Cybertruck, declined by some 45.5 percent their fourth quarter of 2024 volume, whereas the number of Model 3 and Model Y deliveries dropped to 323,800 units. Tesla's new models are turning heads The number of Tesla vehicles produced worldwide was brought to approximately 1.77 million units in 2024, up from nearly 1.77 million in 2023. Two models were the main drivers of Tesla's production, as approximately 436,700 Model 3 and Model Y vehicles were built in the fourth quarter. This compares to 22,700 Model S, Model X, and Cybertruck vehicles. The Model Y ranks as one of the best-selling mid-size luxury cars in the United States. Tesla’s home-field advantage Tesla delivered around 1.8 million vehicles in total in 2024. The American firm dominates the electric vehicle market in its home country. That said, Tesla is also keen to tap into new markets, including Europe and China.

Net income attributable to Tesla’s common stockholders was nearly **** billion U.S. dollars, while net income related to noncontrolling interests amounted to ** million U.S. dollars in 2024. This was the fourth year the company turned a full-year profit, after reaching that goal in 2020. The fiscal year end of the company is December, 31st. Focus on innovation drives costs 2020 was the first time that Tesla turned a full-year profit. Previously, net losses had begun to accelerate in 2014, and so did research and development (R&D) expenses. Between 2014 and 2024, Tesla’s research and development expenses increased more than nine-fold from about *** million to over *** billion U.S. dollars. The company's R&D intensity peaked at ** percent in 2017, a striking value compared to GM's **** percent. Tesla's high R&D spending was largely due to the focus on innovative technologies, including electric vehicle batteries and charging infrastructure. In addition to these costs, the company also had to invest significantly more capital than expected towards ramping up production of its Model 3 and Model Y. As a result of increasing demand for Model 3 batteries, Tesla has also begun pouring money into Gigafactory plants in Shanghai, Texas, and Berlin-Brandenburg. Tesla's earnings topped estimates in 2023 with net income reaching nearly ** billion U.S. dollars for the first time. Cost trend   Tesla's selling, general, and administrative (SG&A) expenses jumped from *** billion U.S. dollars in 2016 to more than *** billion U.S. dollars in the following year. SG&A expenses increased moderately to reach around **** billion U.S. dollars the most recent fiscal year.

Tesla's research and development spending increased to over 4.5 billion U.S. dollars in 2024. The intensity of investment in recent years has made Tesla the leading electric vehicle manufacturer in the United States. Globally, the company sold around 1.8 million vehicles in 2024. Tesla’s strategy Tesla distinguishes itself from its domestic competitors by focusing on electric vehicles. It is currently one of the leading companies globally for electric vehicle sales and has even tapped into the luxury car market. Tesla's vehicles had some of the best battery ranges in 2024. To a certain extent, Tesla increased R&D efforts to also enhance battery quality and range for their electric vehicles. The path forward Tesla was among the global brands with the highest brand value as of October 2024. At the end of 2020, common stockholders saw positive returns on their investments for the first time. The company continues to expand its model range throughout 2023 and 2024, with its Cybertruck model hitting the road in late 2023.

Gross margin for Tesla's automotive sales and leasing decreased to around 18.4 percent in 2024. That year, Tesla's overall revenue stood at about 97.7 billion U.S. dollars, while cost of revenue across all segments amounted to over 80.2 billion U.S. dollars.

Tesla's free cash flow came to around 664 million U.S. dollars in the first quarter of 2025, a 126 percent increase from the cash flow reported in the first quarter of 2024. The positive numbers in the first quarter of 2022 came after investments in its Berlin-Brandenburg Gigafactory had driven up expenditures. Tesla's earnings topped estimates in the second quarter of 2021 with a net income exceeding one billion U.S. dollars for the first time.

In 2024, Tesla's selling, general, and administrative (SG&A) costs came to roughly 5.15 billion U.S. dollars, up from 4.8 billion U.S. dollars in 2023. This represented a new peak for selling, general, and administrative expenditures, which were at their highest in 2023.

Tesla's total freshwater withdrawal used in manufacturing sites constantly increased between 2020 and 2023. The American battery-electric vehicle manufacturer's water withdrawal rose from 2.08 to 3.87 million cubic meters in this period.

BYD overtook Tesla as the best-selling electric vehicle brand in 2022 and maintained its position in the ranking through 2024. That year, BYD sold nearly 4.1 million plug-in electric vehicles globally. Tesla and Wuling completed the top three brands that year, with Tesla reporting some 1.79 million sales. BYD is also the leading manufacturer of electric vehicles in China, based on sales. European brands charge ahead in electric car sales With Europe-based brands Volkswagen, BMW, and Mercedes all impressively ranked in the plug-in electric vehicle (PEV) market, there is no doubt that Europe's incumbent automakers are ready to zoom past rivals when it comes to electric mobility. Volatility in the market has, however, come to light in 2020 following the coronavirus outbreak, as international auto sales contracted by around 15 percent and plummeted to around 64 million units. The global automotive chip shortage, accelerated by the pandemic, further contributed to challenges in the market throughout 2021 and 2022. The European electric vehicle market has been growing through these challenges, with plug-in electric vehicle sales representing nearly 23 percent of the 2024 European passenger car sales. Fueling a green future With climate change still a hot topic of conversation across the globe, the adoption of fuel-cell electric vehicles (FCEV), which emit only water vapor into the environment, as well as hybrids, plug-in hybrids, and battery electric vehicles is becoming ever more enticing. Green transportation-related patent applications worldwide represented close to a quarter of all green patents filed in 2020.

In 2023, most of the waste generated by Tesla in manufacturing came from recycled non-hazardous waste. Vehicle manufacturing produced around 347,300 metric tons of non-hazardous waste for recycling that year, compared to 286,500 metric tons a year earlier. Tesla also reported incinerated waste, both hazardous and non-hazardous, for the first time in 2023.

In 2024, Chinese automotive giant BYD Group sold more than 4.2 million vehicles. Almost all the vehicles sold were passenger cars, including sport utility vehicles and multipurpose vehicles. Compared to the previous year, the company's passenger car sales increased by 41 percent.

A rising giant Founded in 1995 by Wang Chuanfu, BYD began as a battery manufacturer, partnering with mobile phone brands to supply lithium-ion batteries for their products. In 2003, the company acquired an automotive company to obtain a license to manufacture automobiles, and successfully developed its first electric car the following year. However, for more than a decade, BYD continued to produce internal combustion engine vehicles until the recent boom in the electric vehicle market. By 2021, the company had become China's leading electric vehicle manufacturer, and by the end of 2023, BYD's market value had surpassed not only all of China's state-owned automakers, but also that of Volkswagen, making it the world's third-largest automaker.

Overproduction in China’s electric vehicle sector BYD's annual revenue has increased more than five times since 2019, thanks to the rapid growth of China's electric vehicle market and increasing vehicle ownership in the country. However, there are potential concerns on the horizon. While fierce market competition and government subsidies have kept electric vehicle prices low in China, the domestic market is now struggling to absorb excess production capacity, leading to inventory issues for some automakers. With new rounds of tariffs planned by the U.S. and the E.U., the outlook for the Chinese EV industry therefore remains uncertain amid the overall slowdown in the Chinese economy.

Purchased goods & services were the largest source of Scope 3 carbon emissions of Tesla in 2023, with 39 million tons of carbon dioxide equivalent (tCO₂e). In addition, Tesla's Scope 3 emissions in 2023 mainly came from the use of sold products and capital goods, with 3.21 million 4.27 million tCO₂e, respectively.The American company's Scope 1 and Scope 2 emissions increased from 2022 to 2023.

In 2023, Tesla reported the largest amount of waste generated in manufacturing, at over 397,200 metric tons. The company had also increased its vehicle production throughout 2023.

Chevrolet sold over 8,600 Bolt electric vehicles in 2024. Sales of this model peaked at over 23,300 units in 2017. Production of the Chevy Bolt started in October 2016, and the model was introduced to the market in the 2017 model year.

Tesla's market capitalization grew to 834 billion U.S. dollars at the end of March 2025, 48.9 percent over its market cap of March 2024, at 560 billion U.S. dollars. Tesla was the leader in the automotive industry for market capitalization, dwarfing second-in-the-ranking Toyota.

The average lifecycle emissions of a Tesla Model 3/Y for personal use were the highest in China compared to the United States and Europe in 2023. In all three regions, grid charging had a considerably higher volume of grams of CO₂ equivalent emissions per mile driven (gCO₂e/mi) compared to solar charging. While the emissions from a grid-charged Tesla Model 3/Y reached 231 grams of carbon dioxide equivalent in China, it stood at 139 gCO₂e/mi and 116 gCO₂e/mi in Europe and the U.S., respectively. Much like grid-charged vehicles, emissions from solar-charged Tesla Model 3/Y vehicles are the lowest in the U.S., with 72 gCO₂e/mi, and the highest in China and Europe.

Tesla's total revenue streams reached approximately 97.7 billion U.S. dollars in 2024, with automotive sales accounting for around 72.5 billion U.S. dollars. Tesla, which began as Tesla Motors in 2003, is the second best-selling brand of plug-in electric vehicles worldwide. New models drive automotive sales segment growth Tesla delivered around 1.8 million new vehicles to customers in 2024. That year, the new Model 3 and Model Y products accounted for the largest share of shipments. Automotive sales are Tesla's strongest growth driver, accounting for about 74.2 percent of revenue in 2024. Automotive sales revenue decreased by around eight percent year-on-year. No loss on vision Tesla produced operating profit for the first time in 2020, a value which stood at nearly 12.6 billion U.S. dollars in 2024. The implementation of large-scale assembly lines is suggested to gain momentum with a European factory: Tesla is investing in a new manufacturing plant in Berlin-Brandenburg. In addition to this, China is expected to become Tesla’s second largest market. China is currently the largest electric vehicle (EV) market and home to some of Tesla’s largest competitors.

Tesla's energy generation and storage segment generated ** billion U.S. dollars in revenues in 2024. Since 2015, the automotive company has stepped up sales by its power segment, with a particularly notable increase in revenues following the acquisition of SolarCity at the end of 2016. Before it was acquired by Tesla, SolarCity generated a revenue of ****** million U.S. dollars.

Tesla's battery recycling program increased its performance between 2022 and 2023. In 2023, the American company recovered more lithium and nickel than in 2022. However, the volume of copper and cobalt recovered for recycling dropped in 2022.The battery-electric vehicle manufacturer is one of the market leaders in electric vehicles and seeks to reduce its reliance on primary mined minerals to improve its environmental footprint.