Tesla tumbles during tough times

Electric carmaker Tesla has seen its profits more than half in the first quarter of 2024, compared with 2023, as it struggles against fierce competition from Chinese manufacturers


QUARTERLY NET REVENUE ($ billions) 
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	2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

One-off $5.9bn tax benefit creates artificially high Q4 2023 profit
              
Elon Musk has announced 10% of global workforce will be laid-off – around 14,000 staff, starting with 6,000 U.S. positions


Q1 2023: $2.51bn, compares with Q1 2024: $1.13bn (fall of 55%)


Sources: BBC, Reuters, Bloomberg, CNBC, Tesla 
Picture: Getty Images 
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