Tesla profits drop 55%, company says EV sales ‘under pressure’ from hybrids

TechCrunch
By Kirsten KorosecApr 23, 2024, 4:23 pm83 pts
Tesla profits fell 55% to $1.13 billion in the first quarter from the same year-ago period as a protracted EV price-cutting strategy continued to cut into the automaker’s bottom line. The results, posted after markets closed Tuesday, sent shares up 7% immediately following the release. Tesla reported revenue…

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