Tesla Profits Down 20% Per Vehicle: Are More Discounts on the Horizon for 2024?

Hey everyone, DennisCW here! If you've been keeping up with Tesla news, you might have seen the latest data showing a significant drop in Tesla's profits per vehicle. In this post, I’m breaking down the numbers, what they mean for Tesla buyers, and why this could lead to even more deals and discounts as we head toward the end of 2024. Plus, I’ve got some must-have Tesla accessories to share with you, so stick around!

Tesla’s Profits Take a Hit: The Numbers

According to a recent post by our favorite Tesla analyst, Troy Teslike, Tesla’s profits per vehicle have dropped by a staggering 20% year-over-year. While vehicle deliveries in 2024 only declined by 1% compared to 2023, the automotive gross profit (excluding regulatory credits) took a much bigger hit, falling nearly 20%. Specifically, the gross profit dropped from $14,240 million in 2023 to $11,434 million in 2024. That’s a significant decrease in the profit margin per vehicle, even as Tesla continues to lower prices.

So, what does this mean? Tesla often responds to slowing demand by cutting prices and rolling out promotional offers. With these numbers in mind, I expect this trend to not only continue but potentially intensify in 2024. We could see steeper declines in both deliveries and automotive profits as the year progresses. This is likely just the beginning of more aggressive discounts and incentives, especially as we approach the end of the year.

Why Q3 and Q4 Are the Best Times to Buy a Tesla

If you’ve been following my channel for a while, you know I always say that the third and fourth quarters are the absolute best times to buy a Tesla. Why? Because Tesla historically ramps up deals and incentives during these periods to boost sales numbers before the year ends. With profits already under pressure, I’m anticipating even more attractive offers in the coming months. So, if you’re thinking about buying a Tesla, it might be worth holding off just a little longer to snag those end-of-year discounts.

What are your thoughts? Have you recently bought a Tesla, or are you planning to soon? Did you manage to score a great deal? Drop a comment below—I’d love to hear your experiences!

Must-Have Tesla Accessories (Because Tesla Doesn’t Include Any!)

Speaking of buying a Tesla, did you know that your shiny new EV comes with zero accessories? Not even a phone mount! But don’t worry, I’ve got you covered with some essential accessories that every Tesla owner should have. These are items I personally use and recommend, and they’re available through our awesome partner, Joah.

Here are my top picks:

• Phone Mount: Trust me, you need this. Without it, your phone will go flying during Tesla’s insane acceleration.
• Center Console Organizer: Keep your stuff in order—otherwise, you’ll lose everything in that black hole of a console.
• Invisible Underscreen Station Mount from Joah: My newest favorite! It’s a sleek spot to store sunglasses or other small items.

But that’s not all—Joah offers a ton of other cool accessories, like a wireless game controller that fits perfectly in the glove box, a portable air compressor for peace of mind on road trips, and even an electric scooter (because why walk from the Supercharger?).

The best part? You can save money on these accessories by using our exclusive promo code (check the link below). Plus, if your order is over $120, you get free shipping! Not only will you get some awesome gear, but you’ll also be supporting the channel. So, definitely check out Joah’s products via the link below. A huge thanks to Joah for partnering with us!

Final Thoughts: What’s Next for Tesla Buyers?

With Tesla’s profits per vehicle down 20% and deliveries slightly declining, it’s clear the company is feeling the pressure. This could be great news for potential buyers as we head into Q3 and Q4, with more discounts and incentives likely on the way. If you’re in the market for a Tesla, now might be the time to start planning your purchase to take advantage of upcoming deals.

What do you think about Tesla’s current situation? Are you waiting for bigger discounts, or have you already pulled the trigger on a purchase? Let me know in the comments! And don’t forget to check out those must-have accessories from Joah to make your Tesla experience even better.

Thanks for reading, and I’ll catch you in the next post!

— DennisCW