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Tesla's Auto Business Has Become a Huge Problem

Sales are falling, margins are dropping, and competition is taking market share from Tesla in EVs.

By Travis Hoium – Jul 25, 2024 at 5:00AM EST

Tesla's (TSLA +4.52%) electric vehicle business generates about 90% of the company's revenue and has been its identity since the company's founding. Now, Tesla wants to be an "AI and robotics company" just as the auto business starts to decline.

In this video, Travis Hoium shows how bad the auto business has gotten and shows why a pivot for the overall business may not be possible.

*Stock prices used were end-of-day prices of July 24, 2024. The video was published on July 24, 2024.

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About the Author

Travis Hoium
Travis Hoium is a contributing Motley Fool stock market analyst covering solar energy, technology, and growth stocks. Before The Motley Fool, Travis was a mechanical engineer at 3M and founded a virtual reality company. He holds a bachelor’s degree in mechanical engineering and a master’s degree in business administration from the University of Minnesota.
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Travis Hoium has positions in General Motors. The Motley Fool has positions in and recommends Tesla. The Motley Fool recommends General Motors and recommends the following options: long January 2025 $25 calls on General Motors. The Motley Fool has a disclosure policy. Travis Hoium is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.

Stocks Mentioned

Tesla Stock Quote
Tesla
NASDAQ: TSLA
$371.35
(+4.52%)+$16.07
General Motors Stock Quote
General Motors
NYSE: GM
$74.50
(+2.39%)+$1.74

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

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