Tesla ($TSLA) FY24 Q4 Earnings Call Summary

Summary generated by Finstory AI

Tesla delivered mixed Q4 2024 financial results, achieving record deliveries and strong cash flow ($2B in Q4) while facing margin pressures from pricing adjustments. Cost reduction efforts brought per-car costs below $35,000, though automotive margins declined due to lower ASPs.

The company announced concrete plans to deploy unsupervised full self-driving in Austin by June 2025, backed by successful autonomous operations at their Fremont factory. Management views FSD as transformative, potentially increasing vehicle utilization from 10 to 55 hours weekly.

Energy business hit record Q4 deployments in both grid-scale and residential storage, with new manufacturing capacity coming online in Shanghai and a third facility under construction. Management projects 50%+ deployment growth in 2025.

Strategic focus remains on autonomous vehicles and humanoid robots, with significant AI investments ($5B to date) positioning Tesla for future growth. The Model Y became the world's best-selling vehicle in 2024, as production approaches 2 million vehicles annually.