Tesla’s Profit Fell 45% in the Second Quarter on Weak E.V. Sales

Category: Business

Tesla's profits have declined due to falling electric car sales, with a reported profit of $1.5 billion in Q2 2024, down from $2.7 billion a year earlier. The company faces increasing competition and a drop in market share, particularly in the U.S. where it accounted for 49.7% of electric vehicle sales. Despite efforts to innovate and reduce costs, including layoffs and price cuts, Tesla's future growth remains uncertain as it ventures into driverless taxis and AI.

Keywords: Tesla, electric cars, profits

Source: The New York Times

Update At: 7/24/2024

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