Rachel Warren

I think we're maybe starting to see the very early signs of that.

I mean, some of those growth numbers I talked about earlier, it was some of the first growth we'd seen on those metrics in a

But I think it's still very, very early days for this strategy.

So I would personally proceed with caution.

First of all, net income came in at about $2.7 billion for the fiscal year.

That was down from $6 billion a year ago.

That type of declining growth is something we've been seeing for them for the last couple of years.

There's some good reasons for that.

A huge driver of that was the net loss they reported in Q4 of about $3.3 billion.

That was driven by over $7.2 billion in special charges, primarily for realigning their EV capacity to meet lower-than-expected consumer demand.

Correct.

There was also a $1.1 billion charge for restructuring in China.

Revenue came in about $185 billion for the fiscal year.

Despite the hype around electric vehicles, their growth has been primarily driven by their internal combustion engine vehicles, specifically large trucks and SUVs.

This strategy is providing them with consistent strong profit margins in North America.

and they're taking a pretty measured approach to their expansion.

They're navigating a very kind of high cost, high demand and lower demand phases that have shifted a lot the last few years by focusing on cost efficiencies.

They're still maintaining the number two position in the USAV market.

Tesla has high growth potential, but its stock has experienced a lot of volatility.

More recently, General Motors has been able to deliver more stable, consistent performance.