![]() He cautioned that, "Every time that the Fed raises interest rates, that's the equivalent to an increase in the price of a car." He also said, whenever there's uncertainty in the economy, people will generally postpone "big new capital purchases like a new car." During a question-and-answer session with analysts, Musk said he expected 12 months of "stormy weather" in the economy. On an earnings call, CEO Elon Musk emphasized an "uncertain" macroeconomic environment that could impact people's car-shopping plans. Revenue from automotive regulatory credits during the first three months of 2023 amounted to $521 million, down from $679 million in the first quarter of last year. The company specified in a shareholder deck that "underutilization of new factories" stressed margins, along with higher raw material, commodity, logistics and warranty costs, and lower revenue from environmental credits, all contributing to the drop in earnings from last year.Īutomotive revenue, Tesla's core segment, reached $19.96 billion in the quarter, up 18% from last year. ![]() Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit ![]()
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