Tesla Reports Strong Q2 Sales, but Lower Prices Take Toll on Earnings
Tesla reported strong sales of 466,000 vehicles in the second quarter, nearly double the sales from the year earlier quarter, driven by continued price cuts and increased demand for its cars.
However, lower prices have squeezed earnings, and the company built nearly 480,000 vehicles, leading to a lag between production and sales.
Investors have become bullish on Tesla shares, with the stock gaining 112% through Friday's close.
Investors have become bullish on Tesla shares, with the stock gaining 112% through Friday's close.
