Elon Musk has promised Tesla vehicles had the hardware needed to support a self-driving car. This week, he made his latest

The electric car company run by Elon Musk is facing increasing competition, but investors have focused mostly on the prospects for Tesla’s self-driving technology.

That answer may well be true. After all, sales of purely internal combustion vehicles have been in decline globally since 2018. Last year, EVs and hybrids together made up 20% of U.S. new car sales and that number is significantly higher globally, propelled especially by China, where EVs alone make up 50% of new car sales.

Tesla’s fourth-quarter adjusted profits rose slightly amid a big push to sell its electric vehicles with offers of zero financing and other incentives, but the results still fell short of Wall Street forecasts.

Tesla’s latest earnings report reveals a rare sales decline and stock dip, as CEO Elon Musk’s escalating controversies and political entanglements raise questions about the brand’s long-term consumer trust and market position.

Still, during Tesla's fourth-quarter earnings call on the evening of January 29, he sent a characteristically blunt message to those who doubted him along the way. "Very few people understand the value of self-driving and [Tesla's] ability to monetize the fleet.

Plus, Musk declares the EV range problem "solved" and Tesla tells automakers not to waste its time unless they're serious about FSD.

Tesla said it was on track to roll out new, cheaper electric vehicle models in the first half of 2025 and would start testing a paid autonomous car service in June, enthusing investors and overshadowing quarterly results that fell short of Wall Street expectations.

Tesla plans to roll out affordable EVs in 2025 and launch a robotaxi service, despite a dip in fourth-quarter earnings.

Federal agencies have offered exits to millions of employees and tested the prowess of engineers — just like when Elon Musk bought Twitter. The similarities have been uncanny.

With annual deliveries dropping for the first time last year, pressure has been mounting for the EV maker to unveil lower-priced models along with autonomous vehicles and software, that CEO Elon Musk said would boost future earnings.