Tesla's profits fell by 45 percent in the second quarter

US electric car manufacturer Tesla's net profit fell by 45 percent in the second quarter of this year compared to the same period last year. According to Tesla's balance sheet for the second quarter of this year, the company's revenue increased by 2 percent in the second quarter of the year compared to the same period last year, reaching $25.5 billion. Tesla had revenue of $24.9 billion in the second quarter of 2023. The electric car manufacturer's net profit, on the other hand, decreased by 45 percent in the second quarter of the year compared to the same period last year, falling to $1.5 billion. Tesla's net profit was $2.7 billion in the same period last year. Tesla's net profit had decreased by 55 percent annually in the first quarter of this year as well, due to falling global sales and price cuts. Decline in production and deliveries Tesla produced 410,831 cars globally in the second quarter of 2024, while delivering 443,956 vehicles. The company's vehicle production decreased by 14 percent annually during this period, and the number of vehicles delivered decreased by 5 percent. Tesla said in a statement that the company achieved record quarterly revenue despite the difficult operating environment in the second quarter.