Elon Musk Reveals a Tesla SecretElectric vehicle maker has profit margins that rivals envy.
There is certainly the fact that the manufacturer of electric vehicles has managed to take a considerable lead over all its rivals in the West.
Its share in the global passenger electric vehicle market was 13% in the third quarter of 2022
Tesla's automotive gross margin was 28.5% last year, according to its annual report
Musk, however, believes it's not just about reducing costs
for the billionaire, the secret of his firm's long-term profitability is also based on the product, in other words the vehicles developed
for the billionaire, the secret of his firm's long-term profitability is also based on the product, in other words the vehicles developed
"This is the fundamental reason why Tesla was the first new American car company to reach sustained positive cash flow since Chrysler ~100 years ago," the billionaire said on Feb. 11
In addition, Musk and Tesla innovated by introducing the over-the-air delivery of software updates in vehicles with new features and functionality.