Tesla's 2Q profit falls 45% to $1.48 billion as sales drop despite price cuts and low-interest loans
- Tesla’s second-quarter net income decreased by 45% to $1.48 billion, down from $2.7 billion in 2023, due to falling global electric vehicle sales despite price cuts and low-interest financing.
- Tesla sold 443,956 vehicles from April to June, a decline of 4.8% from the previous year, indicating weakening demand for its products.
- Tesla's shares dropped over 8% after the announcement, adding to a year-to-date loss of more than 40%, with the company reporting $622 million in restructuring expenses.
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