Currently reading: Tesla chases volume over profit in autonomy gamble

Elon Musk attributes recent price cuts to the forecasted profitability of in-car subscription services

Tesla confirmed it had planned to go against the recent trend of the wider car industry and prioritise sales over profits with its recent price cuts, resulting in lower-than-expected margins for the first quarter of the year.

“We've taken a view that pushing for higher volumes and a larger fleet is the right choice here versus a lower volume and higher margin,” CEO Elon Musk said on the company’s call with analysts after releasing its first-quarter figures.

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