Tesla’s annual profit plunged to its lowest level since the pandemic as it ceded the title of the world’s biggest electric vehicle maker to a Chinese rival and boycotts hammered salesNEW YORK -- Tesla’s annual profit plunged to its lowest level since the pandemic five years ago as it ceded the title of the world’s biggest electric vehicle maker to a Chinese rival and boycotts hammered sales. The EV company run by Elon Musk reported Wednesday that net income last year dropped 46% to $3.8 billion. It was the second year in a row with a steep drop in profit. For the fourth quarter of last year, Tesla's net income dropped 61% to $840 million, or 24 cents. Excluding one-time charges, net income totaled 50 cents per share, compared to analysts forecast of 45 cents.