Tesla’s revenues and profits declined in Q3 as the car manufacturer produced and delivered fewer vehicles than it did in the second quarter. Financial results published by Tesla reveal that its total automotive revenues fell from $21.26 billion in Q2 to $19.65 billion in Q3. However, automotive revenues are up 5% from Q3 2022 when they reached $18.69 billion.
ProductionDeliveriesSubject to operating lease accountingModel S/X13,68815,9858%Model 3/Y416,800419,0744%Total430,488435,0594% The electric car manufacturer notes that its operating income was primarily impacted by an increase in operating expenses due to the Cybertruck, AI, and other research and development projects, the cost of production ramp and idle costs related to factory upgrades, the price cuts made across its range of models, and currency fluctuations.
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: MarketWatch - 🏆 3. / 97 Read more »
Cathie Wood pulls $2 million out of Tesla before Q3 earningsThis tech giant is set to report third-quarter earnings Wednesday.
Source: startelegram - 🏆 248. / 63 Read more »
Tesla earnings on deck with margin pressure, FSD licensing, Cybertruck in focusSlowing demand and narrowing profit margins will likely compel CEO Elon Musk to expand upon new products and services to boost Tesla profits.
Source: startelegram - 🏆 248. / 63 Read more »
Source: Investingcom - 🏆 450. / 53 Read more »
Stocks lower, Tesla on deck, Netflix earnings in focus, United Airlines slumps, oil surgesStocks lower, Tesla, Netflix United Airlines earnings, oil surges
Source: startelegram - 🏆 248. / 63 Read more »
Source: MarketWatch - 🏆 3. / 97 Read more »