Tesla income dip because it invests in manufacturing facility upgrades and AI growth

The Tesla logo on a red, black, and white background.
Illustration by Alex Castro / The Verge

Tesla continues to see its margins slip resulting from worth cuts. At this time the corporate reported earnings of $1.9 billion in web revenue on $23.four billion in income through the third quarter of 2023. The figures signify a small bump in income, from $21.four billion the identical time final yr, however an enormous dip in income, falling from $3.Three billion on near the identical quantity of income.

Tesla additionally missed its goal date for a Cybertruck supply occasion. Tesla CEO Elon Musk had deliberate for a handover occasion someday within the third quarter, and the corporate now plans for its first deliveries to happen on November 30th.

The corporate’s working margins fell for the third quarter in a row, signaling that Tesla’s rampant worth slicing was persevering with to take a toll on…

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