---
type: "Topics"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/topics/26876585.md"
description: "$Tesla(TSLA.US) Flash Interpretation: If we only look at Tesla's performance in the 4Q24 financial report, one word: poor! Overall revenue, gross margin, and operating profit margin are all below expectations!In the most critical automotive business performance, both automotive revenue and gross margin fell significantly below expectations. The gross margin for the automotive business (excluding carbon credits) has once again dropped to a historical low of 13.6%, even lower than the lowest point of 2Q24's automotive gross margin, and significantly below the BBG consensus expectation of 16.2%.Upon closer examination of the reasons for the decline, Dolphin found that the main issue lies in the automotive unit price, which experienced the largest month-on-month decline since 2024, dropping from $42,000 in the third quarter to only $39,800 in the fourth quarter! The BBG consensus expectation for the 4Q24 automotive unit price was only a slight month-on-month decline to $41,400.However, recalling that Tesla did not implement a significant "price-for-volume" strategy in the fourth quarter for its two largest markets (the United States and China) as it did at the end of the previous year, the overall model prices were hardly adjusted, with only an increase in low-interest loan incentives in the U.S. (from a financing rate of 1.99% in the third quarter to a 5-year 0% interest loan rate in the fourth quarter), and a new subsidy of 10,000 yuan for the Model Y starting at the end of November in China.Although the cost per vehicle was also reduced by $400 month-on-month this quarter, mainly due to savings in variable costs per vehicle (with expected continued month-on-month declines in raw material costs), it still could not save the "collapsed" automotive unit price.Although the revenue from energy and service businesses slightly exceeded expectations this quarter, it could not compensate for the "big hole" in the automotive business.However, given that Tesla's fluctuations are already unrelated to the fundamentals of selling cars. For those looking at Tesla's FSD, it doesn't matter how bad it is; at least it can't get worse than this.Tesla mentioned in the conference call that by 2025, there will be paid, unsupervised full self-driving services in Austin and California, and more cars will be sold. Trump's removal of new energy subsidies is also a positive for Tesla.In any case, Tesla is the embodiment of AI intelligence and Musk's grand AI dream.Therefore, after hours, it can be clearly seen that Tesla first fell and then rose, with funds speculating. It seems that those holding long-term dreams do not care at all about how poor Tesla's short-term car sales and deliveries are."
datetime: "2025-01-30T00:10:54.000Z"
locales:
  - [en](https://longbridge.com/en/topics/26876585.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/26876585.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/26876585.md)
author: "[Dolphin Research](https://longbridge.com/zh-HK/news/dolphin.md)"
---

> 支持的語言: [English](https://longbridge.com/en/topics/26876585.md) | [简体中文](https://longbridge.com/zh-CN/topics/26876585.md)


# $Tesla(TSLA.US) Flash Interpretation: If we only l…


### 相關股票

- [Tesla (TSLA.US)](https://longbridge.com/zh-HK/quote/TSLA.US.md)

## 評論 (47)

- **赛博的火栗子 · 2025-02-04T06:42:58.000Z**: Swear to advance and retreat with future technology! Firmly optimistic about Tesla led by Elon Musk!
- **Blade · 2025-02-03T00:41:47.000Z**: Don't mention Tesla, there's also Cambricon in the A-share market, but the difference is one can turn its big promises into reality, while the other can't.
- **小小王 · 2025-01-30T13:41:05.000Z**: Just like Jia Yueting, this is the real Jia Yueting, and an excellent one.
- **心尖 · 2025-01-30T05:09:33.000Z**: Just wondering, what's the difference between buying Tesla stock and going 2x long? Newbie here asking for advice. Also, if Tesla pays dividends while I'm 2x long, can I still get them? Thanks
  - **长期主义接班人** (2025-01-30T13:53:46.000Z): I also want to know...
  - **C&P大胡子** (2025-01-31T13:21:07.000Z): There will be significant decay in 2x long positions.
  - **心尖** (2025-01-31T14:14:08.000Z): For example, what are the losses for normal stocks? Brother Beard
- **羊驼鱼 · 2025-01-30T04:48:51.000Z**: Last year I also lost a lot of money on Tesla due to so-called technical analysis. In the end, I realized that just holding on is enough. Blindly buying Tesla is the future of technology and the ultimate manifestation of AI combining with the physical world. After reading the biography of Elon Musk,
- **资深韭菜 · 2025-01-30T04:22:16.000Z**: Actually, Tesla's stock price fully rebounded before the earnings call. And the main buyers were retail investors. The current situation with Tesla is that retail investors dare to buy, while institutions dare not sell off.
- **邪恶脚指头 · 2025-01-30T04:17:54.000Z**: During the washout phase after the earnings report came out, I really thought it was a major negative. I added to my position at 375 and sold at 382. Sigh, missed the steepest and fastest part of the rally.
- **波段之子_索罗鸡 · 2025-01-30T03:03:19.000Z · 👍 1**: Tesla's bulls and bears questioned each other, what's going on? Microsoft's earnings report beat expectations but fell 5.5%, while Tesla's earnings report fell far short of expectations but rose 4%.
- **小马哥哥 · 2025-01-30T02:31:24.000Z**: No information about low-priced cars?
  - **糖糖糖** (2025-01-30T05:33:08.000Z): Have
- **永远不要买中概 · 2025-01-30T01:13:42.000Z**: Buying Tesla is not just about buying a car.
  - **Dolphin Research** (2025-01-30T01:43:25.000Z): Buy the dip
- **常瀛 · 2025-01-30T00:46:54.000Z · 👍 4**: Even in this situation, Tesla's stock price remains unaffected. Tesla is bought for its expectations and future potential, not its present performance. So Tesla's stock price is unlikely to fall further... If you don't get on board around $386, you might miss the opportunity.
  - **李大牙** (2025-01-30T01:15:41.000Z): You know what, I actually added to my position at this price last night.
  - **常瀛** (2025-01-30T01:19:40.000Z): I went to bed early last night and came back after the market closed.
- **利好核心资产 · 2025-01-30T00:45:21.000Z · 👍 1**: You can only say that buying Tesla is believing in Musk's statement.
- **finestupidity · 2025-01-30T00:40:49.000Z**: Long live faith🎉
- **kingarthursaber · 2025-01-30T00:40:10.000Z · 👍 1**: The bulls are purely driven by faith, the fundamentals are a mess, Tesla's rise is just pie in the sky.
  - **Dolphin Research** (2025-01-30T00:42:10.000Z): Haha, making empty promises is also a kind of ability.
- **龙神威武 · 2025-01-30T00:39:52.000Z**: Tesla's rise and fall no longer depends on fundamentals, but entirely on the sentiment of fans and investors, and Musk is super good at creating topics.
  - **Dolphin Research** (2025-01-30T00:44:04.000Z): Actually Tesla is just a giant meme stock scene
  - **龙神威武** (2025-01-30T00:46:46.000Z): Hahaha😂 So Tesla's stock is the most unpredictable. I don't know how to operate it. There's no technical analysis to speak of. What should I do?
  - **Dolphin Research** (2025-01-30T01:09:12.000Z): What's there to analyze about meme stocks? Just follow the retail investors if they're buying. Overthinking it means missing out on profits.
- **Dolphin Research · 2025-01-30T00:36:40.000Z · 👍 4**: Actually during the earnings call, they didn't even elaborate on the 20-30% sales growth expected in 2025, just vaguely mentioned there would be growth.Whether it's the ride-hailing service in Austin launching in June, or the more affordable car models in the first half year, none of these provide a
- **糖糖糖 · 2025-01-30T00:34:40.000Z · 👍 1**: I'm a die-hard fan of Elon Musk, faith is priceless
  - **我日李奶奶** (2025-01-30T00:36:07.000Z): Trapped in a losing position?
  - **糖糖糖** (2025-01-30T00:37:21.000Z): Huh? I've held Tesla's stock for a long time.
- **Molly夏 · 2025-01-30T00:17:05.000Z · 👍 3**: I believe in Elon Musk's grand narrative and will continue to hold Tesla!
- **谁惹我咬谁 · 2025-01-30T00:13:50.000Z**: What if Tesla issues a cryptocurrency?
  - **Dolphin Research** (2025-01-30T00:23:16.000Z): Haha, this is the mentality of Tesla fans. Every ambition of Elon Musk can be reflected in Tesla or ultimately benefit Tesla.
  - **谁惹我咬谁** (2025-01-30T00:26:54.000Z): Musk's fortune is tied to Tesla. This ambitious man has indeed put himself in the game. Now the question is: Where are the short sellers?
  - **Dolphin Research** (2025-01-30T00:33:39.000Z): Gambling with life