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TESLA’S PRICE CUTS EAT INTO CYBERTRUCK MAKER’S PROFITS AS NET INCOME PLUNGES 44% IN THE 3RD QUARTER

Tesla’s net income slumped in the third quarter versus a year earlier, as price reductions helped drive strong sales growth but also ate into the automaker’s profit margins

The Austin, Texas, maker of electric vehicles, solar panels and batteries this week reported net income of $1.85 billion

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