Cybercab roll-out in Austin, Texas, has faced delays Tesla’s second-quarter profits slumped – despite it selling 10% more cars than a year ago Tesla’s long-promised transition from car-making giant to AI-driven tech titan has suffered a setback, as returns on the firm’s core vehicle line-up continue to erode. The company reported a sharp drop in profits for the second quarter this year, after the average selling price of its cars slumped. The operating margin dropped to just 1.4% for the quarter ending June, compared with 4.1% in the same period last year despite delivering more cars, at 451,758 – up 10%. The average selling price, based on automotive revenue divided…
Cheap cars hit Tesla profits as tech pivot stalls
