Sales Were Up at Tesla, But So Were Costs and Spending Tesla's latest financial statement has highlighted a concerning trend: while sales continue to rise, the company's profitability is under pressure.
Despite a 23% increase in revenue from electric vehicle sales and a doubling of services income, Tesla's once enviable profit margin has shrunk to a meager 1. 4%.
The primary driver of this reduced profitability is the escalating cost of production.