BUSINESS

Tesla Profit Falls as Credits, Tariffs Weigh

Tesla’s third-quarter profit fell 37% to $1.4 billion even as revenue rose 12% to $28.1 billion, squeezed by price cuts, low-interest loans and tariffs. Revenue from clean-air credits dropped 44% to $417 million. The company declined to issue a forecast, citing shifting trade and fiscal policies. Shares slipped about 1.5% in extended trading. Ahead of a Nov. 6 vote on Elon Musk’s proposed pay package, sales were lifted by a U.S. EV tax credit that expired at the end of September, while U.S. market share fell to 41% from 48% and energy-storage revenue jumped 44% to $3.4 billion.

Reviewed by JQJO team

#tesla #profit #automotive #sales #economy