Tesla for Q2FY23 reported an all-time high quarterly revenue of $24.93 billion as compared to $16.93 billion up by 47% Year-over-Year (YoY) and about a 6.5% increase sequentially. The growth in revenues was owing to the growth in vehicle deliveries for the quarter. Furthermore, Tesla's Model 3 sedans and Model Y crossover SUVs accounted for the vast majority of sales.

On the contrary, the company's operating profit margins dropped to 9.6% Vs 14.6% same period last year, down by 493 Bps. The margins were at the lowest level in the past five quarters due to price cuts and incentives. The automaker explained in the shareholder's deck that the lower margins in Q2 resulted from reduced average sales prices “due to mix and pricing” of the cars it has been selling, and the cost of ramping up production of battery cells it designed in-house, known as the 4680 cells, among other factors.

Moreover, the Total gross margin came in at 18.2% down from 25% in Q2 2022 and down from 19.3% last quarter.

The EV automaker posted a net income with an increase of 20% on a YoY basis from $2.259 billion to $2.7 billion. The Earnings Per Share (EPS) rose 20% to 91 cents. However, the company's operating income fell by 3% YoY to $2.40 billion.

On July 2, 2023, Tesla posted 466,140 deliveries for the second quarter up by 83% and production of 479,700 vehicles partly driven by incentives and discounts.

The company's Supercharger stations increased by 33% in Q2 to 5,265 and 48,082, respectively. Tesla has been opening its network to other automakers in recent months

During the Earnings call, the company said that they aim to target 1.8 million vehicle deliveries this year, but expect Q3 production will be a little bit down because they have got summer shutdowns for a lot of factory upgrades.

Following the initial report, the stock price remained flat but began to drop during the earnings call as Elon Musk and other executives failed to provide exact specifications and delivery dates for the Cybertruck.

Tesla shares fell during the earnings call as Elon Musk commented that concerns about falling profit margins will be rendered irrelevant once Tesla achieves fully autonomous driving.

Following the close of trading on July 19, Tesla stock dropped 5% in after-hours trades to close at $291.26 down by 0.7%

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Leveraging Tesla, in this context, likely refers to making the most of the company's potential for investment, innovation, or market influence. Here are some ways you can consider leveraging Tesla:

1. Investment: If you are interested in investing in Tesla, you can purchase Tesla stocks through a brokerage account. Keep in mind that investing in stocks carries risks, so it's crucial to do thorough research and consider your risk tolerance before making any investment decisions.

2. Electric Vehicle Industry: Tesla is a significant player in the electric vehicle (EV) industry. If you're an entrepreneur or a business owner, you can explore opportunities related to EVs, such as developing charging infrastructure, creating EV components, or offering services tailored to EV owners.

3. Clean Energy and Sustainability: Tesla is not just an automaker; it's also involved in clean energy solutions like solar panels and energy storage through its Powerwall and Powerpack products. You can leverage Tesla's focus on sustainability and green energy by exploring similar initiatives or investing in clean energy projects.

4. Partnerships and Collaborations: If you have a business that complements Tesla's products or services, you could explore partnerships or collaborations with the company. This could involve offering compatible products, and services, or integrating your technologies with Tesla's offerings.

5. Tesla as a Benchmark: Tesla is often considered a benchmark for the EV industry and innovation. Even if you are not directly involved in the EV market, you can learn from Tesla's approach to business, innovation, and customer engagement to improve your own company's practices.

6. Research and Innovation: If you are in the technology or automotive industry, studying Tesla's advancements in autonomous driving, battery technology, and user interface design can provide valuable insights for your own research and development efforts.

7. Promoting Sustainable Transportation: As an individual, you can leverage Tesla's example by supporting sustainable transportation options in your community. This could involve using electric vehicles, advocating for charging infrastructure or supporting local policies that promote clean energy and transportation.

8. Learning from Elon Musk's Leadership: As the CEO of Tesla, Elon Musk is known for his innovative thinking and leadership style. You can read about his principles, management techniques, and problem-solving strategies to gain inspiration for your own professional development.

Remember, when leveraging Tesla or any company, it's essential to approach it with a well-thought approach to investments.

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On April 13, Tesla announced price cuts in European markets including Germany and France with all versions of the Model 3, Model S, and Model X selling for lower prices as well as the Model Y Performance. The electric automotive giant lowered prices by between 4.5% and 9.8% in Germany marking its second reduction this year after price cuts of up to 17% in January.

These price reductions by the company were possible in Europe because of a scaling up and improvement in its production capacity.

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