Tesla's Per-Car Profit Fell Another 8% Last Quarter, and I Fear This May Be the New Norm

Tesla’s per-car profit fell another 8% last quarter, underscoring a tougher profitability picture even after strong deliveries early on. The company reported fiscal second-quarter results after Wednesday’s close, with revenue of $28.2 billion and per-share profit of $0.33, compared with analyst forecasts of $26.3 billion and $0.50. Total EV deliveries rose to 480,126 units, but average revenue per car fell by $2,613 versus the prior quarter. At the same time, production cost per vehicle increased by more than $6,000, aided by higher production during the quarter. The article links the pressure to expanded price competition, including increased availability of rivals such as BYD as deliveries shift toward Europe.