With $97.7 billion in revenue, Tesla recorded a $7.1 billion net income for 2024. In comparison to full-year 2023 figures, net income fell 53% despite sales that rose by a meager 1%. The company's car sales dropped 6% to $77.1 billion.

Elon Musk finally admits that Tesla will have to replace its HW3 self-driving computers. He said it would be difficult, but Tesla would do it. However, no concrete plan has been shared. For the better part of the year, we have been reporting that Tesla can’t achieve its promise of “full self-driving” on HW3, and it needs to come clean about it.

The news comes from CEO Elon Musk, who finally admitted it during Wednesday's Tesla earnings call (via Electrek ). "The truth is that we will need to replace all HW3 computers in vehicles where FSD was purchased," said Musk after Tesla's head of FSD, Ashok Elluswamy, said the company is "not giving up on it."