As Tesla CEO Elon Musk continues to make lofty promises about his company's future in autonomous driving and robotics, investors keep watching profit margins deteriorate.
It's the fourth straight quarter of shrinkage.
The company reported just $1.48 billion in net income on revenue of $25.5 billion, which included $890 million in regulatory credits.
"Affordability remains top of mind for customers," said Vaibhav Taneja, Tesla's chief accounting officer, on the company's earnings call.
Tesla began offering a five-year, zero interest loan offer to spur sales of its EVs in China in April.
Persons:
Elon Musk, Tesla, Vaibhav Taneja
Organizations:
SpaceX, X Holdings Corp, Milken Institute's Global, Beverly Hilton Hotel, Nasdaq
Locations:
Beverly Hills , California, China, CnEVPost, Shanghai, Germany