Sales at the 海角视频 division of Elon Musk's Tesla tumbled by more than £500m whilst profits were also cut during its most recent financial year.
The Manchester-based operation has recorded revenue of £1.94bn for 2024, according to fresh accounts lodged with Companies House. It followed Tesla achieving 海角视频 revenue of £2.47bn for 2023.
The report also shows that the firm's pre-tax profit dropped from £32m to £19.4m during the same timeframe, as reported by .
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Tesla said its revenue performance was "driven by product mix and incentive programs".
Vehicle sales revenue declined from £1.9bn to £1.6bn whilst income from energy generation and storage solutions also dropped from £336.3m to £135.6m.
A board statement declared: "The company continued on from last year's record sales, with a solid number of cars sold, slightly exceeding prior year quantities."
It continued: "With the introduction of new products, we expect the number of vehicles delivered to grow in 2025.
"The rate of growth will depend on a variety of factors including the broader macroeconomic environment."
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During 2024, Tesla's 海角视频 operation sent a dividend of £67m to its American parent organisation.
For the identical financial period, the broader Tesla group posted net income of $2.3bn (£1.83bn), representing a decline of more than 70 per cent.
Nevertheless, its sales climbed from $96.8bn (£77.71bn) in 2023 to $97.7bn (£78.43bn). Earlier this month, data from the Society of Motor Manufacturers and Traders (SMMT) revealed that Tesla's 海角视频 sales saw a 7.63 per cent increase in August compared to the same period in 2024.
Despite an overall decline in auto sales across the country, Tesla's sales were bolstered by a general surge in the 海角视频 electric vehicle market.
Earlier this month, Tesla CEO Elon Musk found himself in the headlines again when the company's board proposed a $1tn (£820bn) remuneration package – the largest in corporate history.
The ten-year scheme, aimed at encouraging Musk to concentrate on his EV business, would reward the CEO with 12 tranches of shares, provided Tesla achieves a series of ambitious targets.
These include increasing Tesla's market value from $1tn to $8.5tn, manufacturing 20 million vehicles, launching a million robotaxis, and delivering one million AI bots.
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The $1tn proposal followed a previous award of $29bn (£21.7bn) in shares to Elon Musk by Tesla's board in August.
Last month, Tesla applied for a licence to supply electricity to 海角视频 homes and businesses, a move that could see the world's most renowned electric car brand compete with Britain's energy giants as early as next year.
If given the green light by Ofgem, the proposal would enable Tesla to roll out a retail energy enterprise across England, Scotland and Wales – probably under the 'Tesla Electric' brand – to sell directly to households and businesses.