Tesla’s profits in the second quarter of this year reached $1.8 billion
The profits of the American electric car manufacturer Tesla fell 42% in the second quarter of this year to $1.8 billion from $3.15 billion in the corresponding quarter of 2023.
Tesla’s revenues increased 2% to $25.5 billion in the second quarter from $24.92 billion in the corresponding quarter of 2023, while the market expected to achieve $27.77 billion in the second quarter of the current year.
Car sales fell 7% to $19.9 billion from $21.27 billion in the same quarter last year.
Tesla cars still lead electric car sales in the United States, but their market share is declining in favor of a growing number of competitors, due to its old lineup of sedans and SUVs.
Improved deliverables
The company announced better-than-expected second-quarter deliveries earlier this month, after a difficult first half of the year that saw Tesla cut more than 10% of its headcount.
However, deliveries remained lower than the previous year for the second time in a row.
Sales of rival electric automakers jumped 33% on a full year-over-year basis in the United States during the first half of 2024, while Tesla sales fell 9.6% in that time frame, according to data tracked by Mox Automotive, and reported by CNB. American Economic C.
Tesla’s profits in the second quarter of this year reached $1.8 billion
