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Tesla’s Margins Fall Amid Price Drops

By
Becky Peterson
· · Source: The Information

Tesla’s margins fell in the first quarter, reflecting on-going price cuts from the electric vehicle maker. In an earnings report Wednesday, Tesla reported gross margins of 19.3% for the quarter, down sharply from 29.1% the year before. Total revenue grew 24% to $23.3 billion from the same period a year earlier, and total automotive revenue rose 18% to $19.96 billion. But Tesla’s gross profit...

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