• Feedback
  • RSS Feed
  • Sitemap
Ommcom News
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ
No Result
View All Result
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ
No Result
View All Result
Odisha News, Odisha Breaking News, Odisha Latest News || Ommcom News
Home Business

Tesla Logs $2.7 Bn In Net Income, Cybertruck On Its Way: Musk

OMMCOM NEWS by OMMCOM NEWS
July 20, 2023
in Business

San Francisco:  Elon Musk-run Tesla has reported a revenue of $25 billion with a net income of $2.7 billion (up 20 per cent year-on-year) in the second quarter (Q2) this year.

The revenue was also 50 per cent higher than year-ago sales of $16.9 billion, and mostly came from automotive sales which was $21.3 billion in the April-June period.

In the second quarter, Tesla produced nearly 480,000 vehicles and delivered over 466,000 vehicles, the company said in a statement late on Wednesday.

“For 2023, we expect to remain ahead of the long-term 50 per cent CAGR with around 1.8 million vehicles for the year,” according to Tesla’s earnings report.

Musk said that Q3 production will decrease slightly, driven by planned downtime for factory upgrades.

“When interest rates rise dramatically, we actually have to reduce the price of the car because the interest payments increase the price of the car,” he added.

Tesla finally showcased Cybertruck at its Gigafactory in Austin, Texas.

“It’s always very difficult to predict the ramp initially, but I think we’ll be making them in high volume next year, and we will be delivering the car this year,” Musk said.

The company said that its operating margin remained healthy at approximately 10 per cent, even with price reductions in Q1 and early Q2.

“We are focusing on cost reduction, new product development that will enable future growth, investments in R&D, better vehicle financing options, continuous product improvement and generation of free cash flow,” said Tesla.

The company said it is now testing Cybertruck vehicles around the world for final certification and validation.

“This might be the most unique vehicle product in decades; with that comes trialing and testing new technologies. Both technologically and architecturally, this vehicle will break a lot of boundaries,” said the company.

(IANS)

Tags: Elon MuskTesla
ShareTweetSendSharePinShareSend
Previous Post

Video Shows Prigozhin In Public For 1st Time Since Wagner’s Failed Mutiny

Next Post

Congress, AIMIM Give Adjournment Motion Notices In LS Over Manipur Violence

Related Posts

Business

GST Council Meeting Soon, Tax Slab Rates And Compensation Cess Key Review Points

July 12, 2025
Indian stock markets
Business

Nifty’s Closing Above 25,330 Could Reignite Bullish Momentum: Experts

July 12, 2025
Business

Days After Khemka, Yadav Murders, Another Patna Trader Gunned Down; Business Community Tense

July 12, 2025
Reserve Bank of India
Business

RBI Imposes Monetary Penalty On HDFC Bank, Shriram Finance

July 11, 2025
RBI
Business

India’s Gold Reserves Rise By $342 Million, Forex Stands At $699.736 Billion: RBI

July 11, 2025
FM Sitharaman
Business

FM Sitharaman Kickstarts More Than Rs 1,000 Crore Projects In Meghalaya

July 11, 2025
Next Post

Congress, AIMIM Give Adjournment Motion Notices In LS Over Manipur Violence

Manipur incident

Manipur Incident Shamed 140 Cr People Of Country, Guilty Won't Be Spared: PM Modi

Women Naked Manipur

2 Women Paraded Naked On Camera In Manipur After Allegedly Being Gang-Raped, Incident Draws Strong Condemnation

khimji
TPCODL
OMC
  • Feedback
  • RSS Feed
  • Sitemap

© 2025 - Ommcom News. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ

© 2025 - Ommcom News. All Rights Reserved.