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Source: Huanqiu.com

[Global Network Financial Comprehensive Report] On July 24, according to Yahoo Finance and other media reports, Tesla (TSLA) announced its second-quarter 2024 results after the market closed on Tuesday, showing mixed performance. Despite the challenges, the electric car maker said it is on track to launch a new car in the first half of 2025, most likely a more affordable electric car. At the same time, Tesla also admitted that its growth rate in 2024 will be "significantly lower" than that in 2023.

In the second quarter, Tesla's revenue reached $25.05 billion, slightly higher than Bloomberg's forecast of $24.63 billion and slightly higher than the $24.93 billion in the same period last year. However, adjusted earnings per share were $0.52, failing to reach the expected $0.60. Non-GAAP net profit was $1.8 billion.

Affected by the performance, Tesla's stock price fell more than 4% in after-hours trading.

In the financial report, Tesla stated: "New car plans, including more affordable models, are still on track to start production in the first half of 2025. These vehicles will leverage next-generation platforms as well as certain features of our existing platforms and will be produced on the same production line as our current vehicle series." This news is an important signal for investors and analysts who expect Tesla to launch cheaper electric vehicles to stimulate sales growth.

During an earnings call, Tesla CEO Elon Musk revealed that the launch of the new robotaxi, originally scheduled for August 8, will be delayed until October 10. Musk said the extra time will allow Tesla to add "some other features" to the robotaxi before the launch.

Tesla said its self-driving taxis will adopt the previously touted "boxless manufacturing strategy." Wedbush analyst Dan Ives said in a report on Monday: "The conference call discussion about the postponement and new schedule of Robotaxi Day is very important because we believe that Tesla's valuation can reach more than $1 trillion in the next year and ultimately higher, depending on whether the AI/FSD story can achieve profitability in the next few years."

In terms of other models, Tesla said that Cybertruck production has more than tripled from the first quarter and is expected to be profitable by the end of the year. At the same time, Tesla Semi factory is also expected to start production by the end of 2025.

Although Tesla delivered 443,956 vehicles worldwide in the second quarter, that was still down nearly 5% from the same period last year, but it was an improvement over the 386,810 vehicles delivered in the first quarter.

Notably, Tesla disclosed in its second-quarter production shipment report that it deployed 9.4 GWh (gigawatt-hours) of battery energy storage, the highest quarterly deployment ever and more than double the battery storage the company deployed in the first quarter. Morgan Stanley's Adam Jonas called this data a "spotlight figure," noting that its deployment of 9.4 GWh was twice the company's forecast.