A newly identified $1.4 billion discrepancy in Tesla’s reported spending has triggered a fresh wave of scrutiny, with financial analysts raising questions about the company’s accounting practices and internal controls.

Between July and December 2024, Tesla reported spending $6.3 billion on property and equipment, yet the actual value of its assets increased by just $4.9 billion. That $1.4 billion shortfall—highlighted in a detailed analysis by the Financial Times—does not appear to be accounted for by asset sales, impairments, or currency fluctuations.

The revelation has alarmed investors, with some viewing it as a potential sign of aggressive or inconsistent accounting methods. Tesla has yet to issue any explanation for the gap, and the company’s silence has only deepened concerns over transparency.

“This isn’t a rounding error. It’s a red flag,” said one senior market analyst quoted in coverage by Electrek. Others note that the issue stands out given Tesla’s history of intense market scrutiny and high valuation relative to traditional automakers.

The company’s stock has been underperforming in recent weeks amid broader concerns about demand, pricing cuts, and increased competition in the electric vehicle market, on top of the CEO’s political shift to fascism. The asset gap adds another layer of uncertainty, especially as Tesla continues to invest heavily in global expansion.

Some observers point to Elon Musk’s growing political entanglements and shifting priorities as potential risks to the company’s stability, especially as regulatory interest intensifies.