Analysis-Tesla uses its profits as a weapon in an EV price war

Published by
Reuters

By Paul Lienert and Joseph White DETROIT (Reuters) – Tesla Inc earns more money for every vehicle it sells than any of its global rivals. Now, Chief Executive Elon Musk is using that superior profitability as a weapon in the EV price war he started. Tesla, once one of the auto industry’s biggest money losers, has over the past year built a commanding lead over most major rivals in profit per vehicle, a Reuters analysis of industry data shows. Tesla earned $15,653 in gross profit per vehicle in the third quarter of 2022 – more than twice as much as Volkswagen AG, four times the comparable figur…

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