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Rising prices limited Tesla’s sales slump.

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Tesla’s sales streak ended, but rising prices limited the damage.

Short News:
EV manufacturers had fewer car sales than their record-breaking first quarter but were able to charge greater prices.

Analysts predicted Tesla wouldn’t match Q1’s 310,048 deliveries in Q2. Wednesday, Tesla reported quarterly profits. Q2 earnings were $2.3 billion, $1 billion less than Q1.

“Since 2020, Tesla’s quarterly sales have grown.”

Since 2020, Tesla has sold more cars quarter-over-quarter. Q2 deliveries were 254,695, 27% higher than a year before.

The shortage is due to a COVID-19 outbreak in Shanghai and issues ramping up “money furnaces” in Berlin and Austin.

Tesla’s latest quarter revenue was $16.9 billion, down from $18.8 billion. However, Elon Musk, Tesla’s CEO, said it was a successful quarter despite challenges. Okay.

Musk said car pricing was “embarrassing.” Of course, the increases aren’t the same for every model, but the overall trend is strong.

In 2021, a base, dual-motor Model S will cost $10,000 extra, while the Model Y will cost $14,000. As a result, Tesla’s furnaces must “roar” louder.


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