https://techcrunch.com/2023/04/19/tesla-q1-income-falls-24-as-ev-price-cuts-squeeze-profits/

Tesla reported Wednesday net income of $2.51 billion in the first quarter, a 24% drop from the same period last year as the company’s EV price-cutting strategy cut into profits.

Tesla has repeatedly reduced the price of its four EVs — the Model S, Model X, Model Y and Model 3 — in the United States as well as Europe and China. That strategy has helped boost sales with revenue in the first quarter reaching $23.3 billion, a 24% pop from the same period last year.