Tesla shares fell more than 10% on the stock market after forecasts for 2024 worsened.

Yesterday car brand promotions Tesla fell more than 10% at the Nasdaq stock market open following the release of fiscal 2023 earnings and expectations that auto sales growth could be “noticeably slower” in 2024. In particular, Tesla fell 10.38% after 16:30 Spanish time to $186.24 (€171.7), although it eased its decline to 9.88% minutes later, with stock trading at $187.29

(172.71 euros).

The company announced that Car sales growth this year could be ‘noticeably slower’ that figure will be reached in 2023 as its teams work to launch the “next-generation car” at a gigafactory in Texas. As such, Tesla expects its energy storage business to grow faster than its auto business this year. However, the company assured that it would manage the business “in such a way that a stable balance is maintained during this uncertain period.

Attributed net income

Tesla ended 2023 with Attributed net income of $14.997 million. (13.764 million euros at current rates), which is 19% more than in 2022, follows from data published by the company. revenue amounted to 96.773 million. dollars (88.822 million euros), which is also 19% higher than the previous year.

He Tesla operating profit registered in 2023 drop by 35%to $8.891 million (€8.160 million), and adjusted gross operating result (Ebitda) decreased by 13% to $16.631 million (€15.264 million).

In 2023, the car company 1.81 million cars sold worldwide, representing an increase of 38% year-on-year. In turn, production increased by 35%, reaching 1.84 million vehicles.