Tesla Inc (TSLA)

[Scumbag Fraudsters]

Selling more cars means you can have lower margins.

Tesla has slashed margins repeatedly this year in a desperate effort to move more units.

BYD is already moving plenty of units, no need for extreme price cuts.

Electrek -- August 29, 2003

China’s top EV maker, BYD, saw profits surge 145% in the second quarter, aided by record deliveries. The staggering growth comes amid China’s EV price war that’s limiting margin growth in the region.

After passing Volkswagen as China’s bestselling car brand earlier this year, BYD maintained its lead through the first half of the year.

The profit growth comes amid a fierce EV price war in China led by Tesla’s price cuts earlier this year that are eating into other EV maker’s margins.

If you're so concerned about margins, why aren't you concerned about Tesla's plummeting margins this year?

Price reductions so drastic they had a significant impact on the bottom line.

Reuters -- August 15, 2023

Tesla has already slashed prices of its vehicles in the U.S., China and other markets, prioritizing sales growth over profit margins.

But it had last month said that lower average selling price and lesser sales of its more expensive models were weighing on its operating income and revenue.

Keep drinking the juice they dole out at the Church of Muskology. 🥤