The US electric car manufacturer Tesla reported $25.5 billion in sales from April to June. That is $0.6 billion more than in the same period last year, but less than in the first quarter of the current year. In terms of sales, Tesla narrowly exceeded analysts’ expectations.
However, the robust sales came at the price of significant discounts, which squeezed Tesla’s profit margin. Net profit fell to $1.4 billion, almost halving compared to the previous year. Tesla reported a 45 percent decline.
Tesla remains cautious even with a view to the current 2024 financial year. A noticeably lower growth rate is expected. The focus in the current year will therefore remain on reducing costs.
Tesla shares fell almost 5 percent in after-hours trading. Tesla boss Elon Musk had previously been a top donor to the presidential campaign Donald Trump presents.