Updated Oct. 18, 2023 7:26 pm ET
Chief Executive Elon Musk warned Wednesday that Tesla would face “enormous challenges” scaling up factory production of its long-delayed Cybertruck, signaling profits could remain under pressure in the coming quarters.
The electric-car maker reported a 44% decline in third quarter net income Wednesday, a steeper drop than Wall Street had expected, as price cuts across the company’s lineup continued to take a toll on the bottom line.
Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8