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Tesla earnings nose-dive 23 per cent

Tesla earnings nose-dive 23 per cent

9 News2 days ago
Your web browser is no longer supported. To improve your experience update it here Tesla has recorded a 23 per cent drop in adjusted net income and a 12 per cent decrease in overall revenue, with a double-digit drop in adjusted earnings for the second quarter, both worse than what Wall Street expected. The stricter reading for net income fell 16 per cent to $USD1.2 billion ($1.8 billion). Their core auto revenue also dropped 16 per cent. Tesla facility vandalised and cars set ablaze amid anti-Musk sentiment (Nine) Since 2019, regulatory credit sales alone have brought the company $10.9 million in profits, in some instances the company would have lost money annualy without them. "These regulatory credit sales are the reason that Tesla exists today," said analyst Gordon Johnson Reports found revenue per vehicle dropped to $USD42,231 ($63,978) as the company made $USD500 ($757) less on each car sold. The drop in sales has been largely attributed to Tesla CEO Elon Musk's political activities as well as increased competition in the electric vehicle market, particularly from China. Tesla trade-ins at record levels in the US – report (Nine) Tesla sales continue to drop in markets where EV sales are rising overall. The company is set to lose its title of the world's largest EV builder to BYD, a Chinese manufacturer that doesn't sell cars in the United States. Musk did not comment on the company's sales and revenue dive during his opening remarks on the company's call with investors Wednesday, following the earnings report. TESLA
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China's premier proposes global co-operation on AI
China's premier proposes global co-operation on AI

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China's premier proposes global co-operation on AI

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‘Highest of highs': Brad Pitt's $6m flex
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‘Highest of highs': Brad Pitt's $6m flex

Don't miss out on the headlines from On the Road. Followed categories will be added to My News. Brad Pitt isn't just portraying a Formula 1 driver in films — he's also a true car enthusiast in real life. The Hollywood star's collection features a roaring V12 Lamborghini, sleek electric Porsches, luxurious 4x4s and one of the world's rarest cars. His car collection itself is estimated to be worth approximately $6.3 million. Here's a look inside his extraordinary car collection. Lamborghini Aventador One of the most impressive vehicles in his collection is the Lamborghini Aventador, a V12-powered machine capable of accelerating from 0 to 100 km/h in approximately three seconds. It's unclear which specific version he owns, but with any Aventador, the screaming V-12 engine can accelerate from 0 to 100 km/h in around 3 seconds. Lamborghini Aventador. 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‘Highest of highs': Brad Pitt's $6m flex
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‘Highest of highs': Brad Pitt's $6m flex

Don't miss out on the headlines from On the Road. Followed categories will be added to My News. Brad Pitt isn't just portraying a Formula 1 driver in films — he's also a true car enthusiast in real life. The Hollywood star's collection features a roaring V12 Lamborghini, sleek electric Porsches, luxurious 4x4s and one of the world's rarest cars. His car collection itself is estimated to be worth approximately $6.3 million. Here's a look inside his extraordinary car collection. Lamborghini Aventador One of the most impressive vehicles in his collection is the Lamborghini Aventador, a V12-powered machine capable of accelerating from 0 to 100 km/h in approximately three seconds. It's unclear which specific version he owns, but with any Aventador, the screaming V-12 engine can accelerate from 0 to 100 km/h in around 3 seconds. Lamborghini Aventador. 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While reviews of the movie have been mixed, it's clear that Pitt received a front-row seat to one of the world's most prestigious motorsport events. While filming the F1 movie, he drove on various race tracks that comprise the Formula 1 calendar. And now Brad Pitt has opened up and shared his experience on which Formula 1 track left him feeling the 'highest of highs'. Brad Pitt speaks with Oscar Piastri before the start of the Abu Dhabi Formula One Grand Prix. (Photo by Andrej ISAKOVIC / AFP) Actor Javier Bardem and Brad Pitt in F1 (Photo by Beata Zawrzel/NurPhoto via Getty Images) During a recent podcast interview with Tom Clarkson on Beyond The Grid, Pitt opened up about his new-found appreciation for the world's most iconic circuits like Silverstone and Abu Dhabi. However, there was one track that made him feel completely different from the rest. And that crown belongs to Belgium's Spa-Francorchamps, commonly referred to as Spa. 'But the high of highs? Spa. Oh my god! 4.3 miles, 100-metre elevation … It's such a smooth, graceful feeling,' Brad Pitt said. US actor Brad Pitt (L) speaks with Nigerian-British actor Damson Idris during a break from filming a scene for the movie F1. (Photo by Andrej ISAKOVIC / AFP) 'And then of course, Eau Rouge, we went to the bottom of Eau Rouge, turned behind, looked up the hill and waited. 'Fernando Alonso went by, and it literally sucks the air out of your lungs. It is unbelievable. It is unbelievable. 'That was that same weekend we were driving, I'd been out, but I wasn't doing what Fernando was doing!' A general view of Spa. (Photo by) Originally published as 'Highest of highs': Brad Pitt's $6m flex

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