Tesla is expected to show high revenue this quarter. This was driven by the $7,500 U.S. tax credit for electric vehicles. Many buyers rushed to purchase cars before the credit expired.
The company recently introduced cheaper versions of the Model 3 and Model Y. Their price is $5,000 lower than previous models. Tesla also temporarily offered discounts on premium models.
The price reductions affected the company’s profits. According to analysts, the discounts slightly reduced profit margins. Some experts say Elon Musk’s political statements also lowered demand.
Musk is expected to announce updates on the “robotaxi” project soon. According to the plan, U.S. residents will begin using the service by the end of the year. The project marks a new stage for Tesla.
According to analysts, Tesla’s third-quarter revenue will exceed $26 billion. This is 4% higher than last year, though profit margins will slightly decrease.
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