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Tuesday, November 5, 2024

Tesla’s 2Q profit falls 45% to $1.48 billion as sales drop despite price cuts and low-interest loans

Tesla’s 2Q profit falls 45% to $1.48 billion as sales drop despite price cuts and low-interest loans

BY  TOM KRISHER, AP

Tesla’s second-quarter net income fell 45% compared with a year ago as the company’s global electric vehicle sales tumbled despite price cuts and low-interest financing.

The Austin, Texas, company said Tuesday that it made $1.48 billion from April through June, less than the $2.7 billion it made in the same period of 2023. It was Tesla’s second-straight quarterly net income decline.

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