Elon Musk’s Tesla has reported another decline in quarterly profit, causing concern among investors. The company’s shares fell significantly premarket following the release of its financial results. Second-quarter profits fell by 45% compared to the previous year, and the operating margin dropped from 9.6% to 6.3%. Tesla has been coping with sluggish consumer demand and a price war with competitors, negatively impacting profits. On a positive note, revenue from sales of regulatory credits increased, but the delay in revealing the design of its driverless taxi has created further setbacks for the company.
