In a bid to navigate the challenges posed by higher interest rates, 特斯拉 found its gross margin for the third quarter shrinking compared to the previous year.

The electric automaker resorted to significant price reductions, slashing prices by over 6% across models in the third quarter to stimulate demand during a period of overall market pressure.

Despite these efforts, 特斯拉据报道 faced delivery challenges between July and September due to planned factory retooling for upcoming models.

The company remained steadfast in its annual sales goal, aiming to deliver 1.8 million vehicles, but some analysts questioned the feasibility of this target.

To counter rising competition and a slowdown in electric vehicle demand, Tesla might need to implement further price cuts.

For the quarter ending in September, Tesla reported a gross margin of 17.9%, a significant decline from the previous year’s 25.1%.

This decrease was a result of the aggressive price reductions initiated by the company. Analysts had anticipated a margin closer to 18.02%, highlighting the deviation from market expectations.

Although revenue for the third quarter increased by 9% to $23.35 billion, falling slightly short of the estimated $24.1 billion, Tesla faced market repercussions.

The company’s shares experienced a 2% decline in extended trading, adding to the challenges amid the evolving market dynamics.

As Tesla continues to adapt to market demands and competition, its strategic decisions, particularly regarding pricing and sales targets, are closely scrutinized.

The coming months will likely witness further adjustments as the company strives to maintain its position in the ever-changing electric vehicle landscape.