Tesla announces a profit decline in the first quarter of 2023

Tesla released its first-quarter financial statements, noting a 24% increase in total revenue to $23.3 billion, below analysts' forecasts. However, the company's net income fell 22% to $2.9 billion, also falling short of forecasts. The company acknowledges that the decline in vehicle selling prices has impacted its profitability, but emphasizes that it is taking steps to control operational risks and cut costs such as increased productivity and reduced logistics costs.