---
title: "Tesla (TSLA) Revenue & Earnings History"
description: "Tesla annual revenue and earnings history from 2017 to 2025. Vehicle deliveries, automotive gross margin, net income, and the path to profitability."
canonical: https://www.getswoopr.com/tables/company/tesla-revenue-earnings-history/
source: "Swoopr Investment: https://www.getswoopr.com"
---

## Direct Answer



> Tesla reported $94.8 billion in revenue for 2025, with net income of $3.8 billion (4.0% margin), after $97.7 billion and $7.1 billion in 2024. Tesla achieved its first full-year GAAP profitability in 2020 after years of losses. Revenue grew from $21.5 billion in 2019 to a peak of $97.7 billion in 2024, then fell 3% in 2025. Tesla delivered approximately 1.64 million vehicles in 2025, down from 1.79 million in 2024.








# Tesla (TSLA) Annual Revenue and Earnings History



## Tesla annual revenue, net income, automotive gross margin, and vehicle deliveries (2017-2025)



| Year | Revenue (B) | Net Income (B) | Auto Gross Margin | Vehicles Delivered |
| --- | --- | --- | --- | --- |
| 2017 | $11.8 | -$2.2 | 18.9% | 103K |
| 2018 | $21.5 | -$0.98 | 20.6% | 245K |
| 2019 | $24.6 | -$0.86 | 22.5% | 367K |
| 2020 | $31.5 | $0.72 | 25.6% | 499K |
| 2021 | $53.8 | $5.5 | 30.6% | 936K |
| 2022 | $81.5 | $12.6 | 28.5% | 1,314K |
| 2023 | $96.8 | $15.0 | 19.4% | 1,808K |
| 2024 | $97.7 | $7.1 | 18.4% | 1,789K |
| 2025 | $94.8 | $3.8 | 17.8% | 1,636K |

![Line chart of Tesla annual revenue, net income, automotive gross margin, and vehicle deliveries (2017-2025), 2017 to 2025, with 2 series. Revenue (B) starts at $11.8, peaks at $97.7 in 2024, falls to a low of $11.8 in 2017 and ends at $94.8 in 2025.](https://www.getswoopr.com/images/charts/tables-company-tesla-revenue-earnings-history-1.webp)
*Tesla annual revenue, net income, automotive gross margin, and vehicle deliveries (2017-2025), charted from the table above. Select the chart to open it full size.*



Source: [Tesla Investor Relations](https://ir.tesla.com/). Note: 2020 marked first full-year GAAP profitability. Last verified: October 2026. Automotive gross margin is on the FY2025 10-K basis (17.8% in 2025, 18.4% in 2024, 19.4% in 2023).



## Frequently asked questions



Why did Tesla's automotive gross margin fall from 30% to about 19% in 2023?

Tesla's automotive gross margin declined from approximately 30% (peak 2022) to approximately 19% for 2023 due to: (1) aggressive price cuts -- Tesla lowered Model 3 and Model Y prices by 10-25% globally to stimulate demand amid slowing EV adoption growth; (2) cost increases from new factory ramp-up costs (Gigafactory Texas, Gigafactory Berlin); (3) higher raw material costs (lithium carbonate spiked then fell, but with a lag); (4) increased competition from Chinese EVs (BYD, NIO) forcing price competition. Lower margins reflect the transition from a supply-constrained market to a demand-constrained market.



When did Tesla become profitable?

Tesla achieved its first full-year GAAP net income profit in 2020 ($720 million), after 17 years as a public and private company. The profitability inflection came from: (1) Model 3 production scaling (the critical demand product that required solving the mass-market manufacturing challenge); (2) Gigafactory Shanghai providing lower-cost manufacturing; (3) revenue diversification (energy storage, services); (4) benefit from regulatory credits sold to legacy automakers. Tesla has included carbon credit revenues in its results; excluding credits, 2020 profitability would have been minimal.



How does Tesla compare to traditional automakers on revenue?

Tesla's $97.7 billion revenue in 2023 is significantly smaller than traditional automakers: Toyota ($274B), Volkswagen ($293B), Mercedes ($154B), General Motors ($172B), Ford ($176B). However, Tesla's market cap has at times exceeded all legacy automakers combined, reflecting a premium for software/technology positioning, higher growth rate, and broader energy/autonomy ambitions. Tesla's revenue per vehicle is higher than most mass-market automakers (average selling price approximately $48,000) but lower than luxury brands. The comparison is complicated by Tesla's inclusion of Autopilot/FSD software revenue.







## Cite This Page



If you reference this table in your own work, use the following citation format and add the date you accessed it:



> Swoopr Editorial Team. (2026). *Tesla (TSLA) Annual Revenue and Earnings History*. Swoopr Investment. [https://www.getswoopr.com/tables/company/tesla-revenue-earnings-history/](https://www.getswoopr.com/tables/company/tesla-revenue-earnings-history/)



Check the figures against the primary sources listed under References before you rely on or republish them; the series they come from are revised.







## References



- [Tesla: Investor Relations](https://ir.tesla.com/)







[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/) produces independent investment education and research content.



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