Tesla’s first quarter financial report released: global revenue and net profit both declined

According to the latest financial report, Tesla suffered a decline in performance in the first quarter of this year. Its total revenue fell to US$21.301 billion, the lowest in the past five quarters. At the same time, net profit attributable to ordinary shareholders also fell sharply to US$1.129 billion, a year-on-year decline of as much as 55%. This performance was significantly inferior to the strong performance in the same period last year, when net profit was US$7.928 billion.

Tesla’s revenue decline is reflected globally. What is particularly noteworthy is that Tesla's performance in the Chinese market, the world's second largest economy, has also shown a downward trend. Tesla’s revenue in the Chinese market was US$45.92 billion, down 6.5% from US$48.91 billion in the same period last year. That suggests Tesla's growth momentum may be waning in this key market.

Although the U.S. market is also showing weakness, Tesla is still weak in the U.S. market. Although the United States is still Tesla's largest market, revenue in the first quarter was US$69.762 billion, which failed to reach the level of US$11.247 billion in the same period last year. In other markets, Tesla's revenue also declined, falling from $7.191 billion in the same period last year to $6.947 billion in the current quarter.

The decline in Tesla’s global revenue was mainly affected by the reduction in electric vehicle deliveries. Especially in the Chinese market, due to the decline in new car deliveries, revenue fell year-on-year. According to data released by the Passenger Car Association, Tesla delivered 132,420 vehicles in the Chinese market in the first quarter, down from 137,429 vehicles in the same period last year and 169,935 vehicles in the fourth quarter of last year.

Despite facing severe challenges, Tesla still maintains an important position in the Chinese market, second only to the US market. In the future, how Tesla will adjust its strategy to respond to market changes and restore growth momentum deserves continued attention from the industry.

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