特斯拉第二季营收下降12%创十多年最大滑坡 开始生产更便宜车型

Core Viewpoint - Tesla reported a significant decline in revenue and net profit for Q2 of FY2025, marking the largest drop in over a decade, while also announcing plans for a more affordable vehicle model to be produced in the latter half of the year [2][9]. Financial Performance - Total revenue for Q2 was $22.496 billion, down 12% from $25.5 billion in the same period last year [9]. - Net profit attributable to common shareholders was $1.172 billion, a 16% decrease from $1.4 billion year-over-year [9][10]. - Total automotive revenue was $16.661 billion, down 16% from $19.878 billion [10]. - Carbon credit revenue fell by 51% to $439 million from $890 million [10]. - Total gross profit was $3.878 billion, down 15% from $4.578 billion, with a gross margin of 17.2%, a decrease of 0.8 percentage points [10]. - Operating expenses were $2.955 billion, slightly down from $2.973 billion [10]. - Operating profit was $923 million, down 42% from $1.605 billion, with an operating margin of 4.1%, down 2.2 percentage points [10]. - Adjusted EBITDA was $3.401 billion, down 7% from $3.674 billion, with an adjusted EBITDA margin of 15.1%, up 0.7 percentage points [10]. - Cash flow from operations was $2.540 billion, down 30% year-over-year, with capital expenditures of $2.394 billion, up 5% [10]. Production and Delivery - Total vehicle production was 410,244 units, nearly flat compared to 410,831 units year-over-year [8]. - Total vehicle deliveries were 384,122 units, down 13% from 443,956 units in the previous year [8]. Market Performance - Tesla's stock price closed at $332.56, with a slight increase of 0.14% on the day of the earnings report, and rose by 0.43% in after-hours trading [3][7]. Outlook - The company anticipates that growth will depend on various factors, including advancements in autonomous driving and production capacity [11]. - Tesla maintains sufficient liquidity to support its product roadmap and long-term expansion plans [11]. - The focus remains on increasing vehicle production efficiently before establishing new production lines, with plans for a new affordable model on track for 2025 [11].