Tesla(US:TSLA) Bei Jing Shang Bao·2025-07-24 09:43Core Viewpoint - Tesla's Q2 2024 financial results show a decline in revenue and net profit, attributed to decreased sales and reduced carbon credit income [1][2]. Financial Performance - Q2 2024 total revenue was $22.496 billion, a 12% year-over-year decrease [1]. - Net income for Q2 2024 was $1.172 billion, down 16% year-over-year [1]. - Global deliveries in Q2 2024 reached 384,000 units, reflecting a 13% decline compared to the previous year [2]. Market Challenges - CEO Elon Musk indicated that Tesla may face several difficult quarters due to sudden changes in EV tax credit policies and tariffs [2][3]. - The U.S. Congress has passed a tax and spending bill that will eliminate the $7,500 tax credit for new electric vehicle purchases starting September 30, increasing uncertainty for Tesla's sales in the second half of the year [2]. Product Development - Tesla has begun initial production of a new affordable model in June 2024, with plans for mass production in the second half of the year [3]. - The new model is expected to be a version of Model Y, with a target price below $30,000 [3]. Competitive Landscape - The introduction of the long-wheelbase Model Y in China is seen as a response to increasing competition from local automakers [4]. - Tesla is also focusing on expanding its autonomous driving and robotics business, with plans to launch a third-generation humanoid robot and expand Robotaxi services [4].