BREAKING NEWS: Tesla Earnings Report Announced! Did the Company Sell Bitcoin?

Tesla fell short of analysts’ gross margin estimates in the fourth quarter as the electric vehicle maker offered financing offers and discounts to revive demand for its aging product line.

According to the announced report, Tesla did not sell Bitcoin (BTC).

Shares of the Austin, Texas-based automaker fell 4% in after-market trading.

As Tesla uses more affordable financing options to boost demand, analysts predict the company will gradually erode its auto profit margins in coming quarters as it absorbs the impact of higher interest rates.

The electric vehicle pioneer’s annual deliveries fell for the first time last year due to high borrowing costs and intense competition.

Rivals such as Chinese BYD as well as European manufacturers BMW and Volkswagen have launched cheaper new models in a bid to seize market share.

Tesla said it expects volume growth of 20% to 30% in 2025, and investors believe a cheaper model based on existing platforms to be launched in the first half of the year and higher deliveries of the Cybertruck will help meet the target.

However, the company has not revealed details on pricing, features, and how it will differ from existing offerings.

*This is not investment advice.

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