Musk: The cost of existing models is approaching the limit and new models will be put into production next year

During today’s 2023 fourth quarter and full-year results conference call, Tesla CEO Elon Musk said,At present, the cost of Tesla's existing models is close to the limit, and new models will be put into production next year.Musk said he expects to start production of the next generation of electric vehicles at his Texas Gigafactory in the second half of 2025, but he said ramping up production of the new car will be a challenge.

And before the new model is released,Tesla's sales growth will slow significantly this year.

Tesla’s latest financial report shows that Tesla’s cost of selling single vehicles continued to decline in the fourth quarter, but Musk warned that Tesla’sIt is approaching "the natural limit of cost reduction for existing models."

Musk also said at the meeting that Tesla has come a long way in the development of new generation cars.The next generation of cars will be low-cost.

In Musk's view, Tesla's approach of following the trend in the context of declining interest rates is to make Tesla affordable and accessible to everyone.

Musk also expressed arrogantly,Model Y is 'the world's best-selling car', though Toyota may objectBut none of this matters.