Tesla hits $25B in Q2 revenue, but margins decrease amid price cuts

Tesla reported Wednesday net income of $2.7 billion in the second quarter, up 20% from the same period last year as once again, the company’s EV price cuts dug into profits. The automaker has repeatedly reduced the cost of its four EV models in the United States, Mexico, Europe and China. The move helped boost sales in the first half of the year, with Tesla hitting record Q2 deliveries of 466,140 units. But it’s also taken chunks out of Tesla’s normally healthy automotive margins.
For the second time this year, Tesla’s gross margins decreased to 18.2%, down from 25% in Q2 2022 and down from 19

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