Tesla Craters 7.8% in After-hr Session as Cost Cut May Not Be as Expected for Affordable Models to Be Launched in 2025

　　Tesla, Inc. (TSLA.US) , an US EV maker, released its results after the market closed. Tesla's share price cratered 7.8% to US$227.23 in after-hour trading, with over 21 million shares traded.

　　The Company's quarterly profitability set an over-five-year low, with a gross profit margin of 14.6%, missing the market expected 16.3%. Quarterly adjusted EPS was US$52 cents, below the market expectation of US$62 cents.

　　CEO Elon Musk admitted that new competitors cut prices significantly, making it more difficult for the Company, according to Reuters. The Company reiterated that it will launch affordable models in 1H25. However, cost reduction for such models may be less than expected.

　　(Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)