Tesla's profit in NZ falls as McDonald's rises

Tesla's profit in NZ falls as McDonald's rises
Tesla sales have fallen in NZ (Image: Getty)
Denise McNabb
After a meteoric rise in revenue between 2019 and 2022 the popularity of US billionaire Elon Musk’s Tesla electric car appears to have peaked in New Zealand.According to Tesla New Zealand’s latest annual accounts for the year to December 2023, filed at the Companies Office last week, revenue fell 25% in the period to $373.7million ($499.5m in 2022) after rapidly increasing from $76.5m in 2019. Revenue included the sale of cars, energy generation and storage and servicing. The NZ operation reports to the Netherlands division of...

More Markets

NZ sharemarket rises as Infratil, Spark drive gains
Markets Market close

NZ sharemarket rises as Infratil, Spark drive gains

New Zealand shares ended firmer after Infratil and Spark posted gains.

Jamie Gray 27 Jun 2025
Rua Gold secures funding to step up hunt for NZ gold
Markets

Rua Gold secures funding to step up hunt for NZ gold

The funds will be used to carry out exploration over the next 12 to 18 months.

John Anthony 27 Jun 2025
Former CBL CFO must pay $1.2m for disclosure breaches
Markets

Former CBL CFO must pay $1.2m for disclosure breaches

The case was a first for New Zealand courts, FMA says.

John Anthony 27 Jun 2025
Investore buys New Lynn Bunnings site for $43 million
Property

Investore buys New Lynn Bunnings site for $43 million

Investore Property has struck a deal to acquire the Bunnings complex in New Lynn, Auckland.The company told the market on Friday it had entered an unconditional agreement to acquire the property for $43 million.The 2.2-hectare site at 2–12 Titirangi Rd features an 11,000sq m buil...

Staff reporters 27 Jun 2025