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22 April 2023

Tesla's income drops 24 per cent to $2.7 billion amid EV price cuts

Tesla Business news: Tesla's operating income decreased 24 per cent to $2.7 billion in Q1 2023 as the Elon Musk-run EV maker continues to cut prices of its vehicles. However, the total revenue grew 24 per cent (year-on-year) in Q1 to $23.3 billion owing to price cuts.

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