Tesla beats Wall Street expectations to produce record number of vehicles

Tesla narrowly beat Wall Street expectations in the second quarter of 2023, marking a solid start to the year as the electric carmaker produced a record number of vehicles. Revenue for the quarter topped $24.97bn compared to analyst predictions of $24.7 bn. The report comes after Tesla slashed costs for its most popular vehicle models and drove a major increase in sales. Earnings were $0.91 a share compared with estimates of $0.79. Investors were closely watching Tesla's gross margins, monitoring if they were negatively impacted by the company's move to decrease consumer prices.