With $97.7 billion in revenue, Tesla recorded a $7.1 billion net income for 2024. In comparison to full-year 2023 figures, net income fell 53% despite sales that rose by a meager 1%. The company's car sales dropped 6% to $77.1 billion.

Elon Musk finally admits that Tesla will have to replace its HW3 self-driving computers. He said it would be difficult, but Tesla would do it. However, no concrete plan has been shared. For the better part of the year, we have been reporting that Tesla can’t achieve its promise of “full self-driving” on HW3, and it needs to come clean about it.

Tesla CEO Elon Musk told investors last year that the company was aiming for a 2025 launch of its self-driving service in California and Texas. The company appears to be on track to hit that target. Musk said during Tesla's fourth-quarter earnings call on Wednesday that the automaker is on pace to launch its self-driving service as early as June 2025,