Tesla's long-promised transition from car-making giant to AI-driven tech titan has suffered a setback, as returns on the firm’s core vehicle line-up continue to erode.
The company reported a sharp drop in profits for the second quarter this year, after the average selling price of its cars slumped. The operating margin dropped to just 1.4% for the quarter ending June, compared with 4.1% in the same period last year despite delivering more cars, at 451,758 – up 10%.
Get the full story
Sign up to Autocar for free and enjoy access to our in-depth features, expert opinions, plus stories from Autocar Business.
Already registered? Log in
