Tesla sees Q2 profit plunge

Yahoo Finance ·

Just Auto’s Editor since 2000. Past positions include head of automotive forecasting at the Economist Intelligence Unit (EIU), forecast analyst at IHS Markit and senior economist at the UK’s Society of Motor Manufacturers and Traders (SMMT).

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Tesla reported a sharp drop in net profit for its Q2 earnings announcement. Intensified competition in the automotive market and price cut policies are analyzed to have directly hit profitability. This sluggish performance is expected to dampen investment sentiment in the short term and act as downward pressure on related stock prices. Investors should closely monitor future margin recovery and the progress of new businesses.

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