Earnings were weaker than expected, the near-term outlook is murky, EV sales are down, and Elon Musk is more distracted than ever before. But with a phalanx of loyal shareholders and a cowed board he’s not going anywhere.
Tesla CEO Elon Musk appears virtually at the Alternative for Germany general election campaign launch.No one expected much from Tesla ’s fourth-quarter earnings, since 2024 saw its first year of declining electric vehicle sales since going public 15 years ago. But revenue and profit results weren’t just limp — they were.
of Tesla’s $2.3 billion net income in the quarter. Nor were they bothered that its closely watched gross profit margin for auto sales continued to slide when Tesla is known for enjoying margin premiums far above the auto industry average.The stock’s move “bore no relation whatsoever to the company’s financial performance… or to its outlook for growth in the coming year,” JP Morgan equity analyst Ryan Brinkman wrote, noting the company has become “completely divorced from the fundamentals.
“Even if you put a new CEO in there, it would just kind of be, ‘sit here, but I'm still going to keep doing everything I'm doing,” he said. “If you buy the stock, you have to accept that it’s not going to be like a regular company. It's Elon’s private company that is public for some reason.” Well before Musk was accused of giving a Nazi-style salute at a Trump victory rally this month, his vitriolic commentary which has widely been decried as racist, anti-Semitic and transphobic was, particularly in the blue states that are its biggest markets for EVs in the U.S. Late last fall, Interbrand’s annual survey of the world’s most valuable brands showed a 9% decline for Musk’s car company.
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