Tesla records its first quarterly sales decline in four years | The truth

Tesla plans to cut more than 10% of its global workforce, that is, about 14,000 employees, due to the “duplication of work roles and functions in certain areas,” according to the email sent by the company's CEO, Elon Musk, his employees and to which the American media specialized in electric mobility, Electrek, has had access.

Musk explains in the email that “an exhaustive review of the organization” has had to be carried out and the decision has been made to reduce the workforce “by more than 10% worldwide”, which will allow them to be more “efficient, innovative and eager for the next cycle of the growth phase.

“I would like to thank everyone leaving Tesla for their hard work over the years. I am deeply grateful for his many contributions to our mission and we wish him the best in his future opportunities. “It is very difficult to say goodbye,” Musk's text continued.

This news is announced after a drop in vehicle sales in the first quarter by the company and amid a slowdown in demand for electric vehicles.

Tesla missed sales expectations for the start of this year by a wide margin, posting its first quarterly decline in four years.

Tesla will deliver its quarterly earnings report next Tuesday, April 23. The same analysts estimate that Tesla will still earn a profit of around 50 cents per share, up from 85 cents per share in the first quarter of 2023.

In previous quarters, Tesla has recommended a “pause” between growth phases, expecting sales growth to be more modest until the launch of next-generation vehicles like the $25,000 Model 2.

Tesla ended last year with 140,473 employees, nearly double the total three years earlier. It has been ramping up production at two plants, one in Austin, US and the other outside Berlin, Germany that began producing the Model Y in early 2022. The company began cutting prices across its lineup as Those facilities reached higher volumes.

Tesla shares have fallen 31% this year, ranking among the worst performers in the S&P 500 index. The stock fell as much as 1.2% before the start of regular trading on Monday.

Tesla's layoffs also come at a time when many other companies in the technology industry are laying off staff, in what the US news agency calls “an apparent game of follow the leader while industry profits remain high.” .

The market share of electric vehicles in Europe in January fell to 12%, the lowest recorded for this motorization since the 10% marked in January 2023, according to data from the consulting firm Jato Dynamics. Electrification is advancing timidly on the continent, since the majority of registrations are of hybrid vehicles, while sales of pure electric vehicles are stagnating and growing a modest 9% to 106,187 units.

Among the four largest markets, Belgium (+66.9%), France (+31.8%) and the Netherlands (+20.9%) posted significant double-digit gains, while registrations in Germany declined by 15.4%.

Sales of hybrid-electric cars increased by 24.7%, driven by substantial growth in the four largest markets: France (+41.5%), Spain (+26.5%), Germany (+16.4 %) and Italy (+16.1%). , which together represent more than 70% of sales in the EU. Sales totaled 255,511, representing 28.9% of the market.

In Spain, according to figures provided by Anfac, sales of electrified vehicles (electric and plug-in hybrids, including passenger cars, quadricycles, commercial and industrial vehicles and buses) have achieved new growth in February, with 10,083 units, which represents 11. 1% more than the same of the previous year and adding 10.3% of the market. In the first two months, a total of 18,644 sales have been registered, 8.8% more than in 2023.

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