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TeslaThe pace of making money has slowed down.

Tesla's second quarter 2024 financial report is released, with the following highlights:

Second quarterRevenue: $25.5 billion, US$24.83 billion in the same period last year, a year-on-year increase of 2%;

Net profit of US$1.494 billion, a significant decrease compared with the net profit of US$2.614 billion in the same period last year; the net profit attributable to common shareholders was US$1.478 billion, a decrease of 45% compared with the net profit attributable to common shareholders of US$2.703 billion in the same period last year;

Second quarterGross profit margin 18%, a slight decrease from 18.2% in the same period last year and an increase from 17.4% in the previous quarter.

Tesla's free cash flow in the second quarterUS$1.34 billion.

Although Tesla's revenue broke records, its net profit fell sharply.

Combined with Tesla's second quarter sales data,In the second quarter of this year, Tesla delivered a total of 444,000 vehicles worldwide. In the same period last year, Tesla's global deliveries were 466,000 vehicles. This year's second quarter fell 4.8% year-on-year.After two consecutive quarters of year-on-year decline, Tesla's global deliveries fell 6.6% year-on-year to 837,700 vehicles in the first half of this year.

The decline in delivery volume and the continued introduction of terminal discounts in its main market, China, directly lowered Tesla's net profit performance.

Musk also acknowledged this in the earnings call, saying,Intensifying competition in the electric vehicle market and price discounts from rivals are a challenge for Tesla.

However, Musk also revealed a few pieces of news:

FSD will be introduced in China in version 12.6, and also entered Europe and other countries at the same time. Currently, V12.5 has been launched for trial within Tesla;

Robotaxi launch date postponed from August to October 10, because Musk requested a major design change to the front of the Robotaxi, and the extra time gained by delaying the release date will give the company a chance to show off some other content;

Tesla will launch a cheap car in the first half of 2025;

Tesla's second-generation humanoid robot Optimus is already handling battery-related tasks in the factory. It is expected that by the end of 2025, there will be thousands of Optimus robots performing tasks in Tesla factories.

Although the financial reports can be considered good news, the repeated delays in these news also caused Tesla's US stock price to fall by 8% after the market closed.

It is not difficult to see that Tesla, which has always been committed to controlling costs, is also struggling to cope with the current raging price war, and Tesla has never positioned itself as a traditional car company.

In the earnings call, Musk emphasized thatTesla's value is highly dependent on autonomous driving.With the arrival of FSD and Robotaxi, perhaps it will truly determine Tesla's chances of a comeback.

This time, Musk also introduced Tesla's shared travel platform, emphasizing that its advantage is that vehicles can be used around the clock, can be full-time members of the fleet or part-time contributors, and vehicle owners will share income directly with Tesla.

On the one hand, Tesla has increased its investment in artificial intelligence technology, but at the same time it has also encountered profitability problems; FSD and Robotaxi, the two major opportunities that Tesla is betting on, are also facing breakthroughs and technical challenges at the regulatory level.

On July 23, Tesla China’s official website showed:Model 3andModel YThe deadline for the limited-time 5-year 0% interest promotion for some models has been extended from July 31 to August 31.

Tesla had no better solution until the turning point came.