Tesla reported a 37% decrease in net profit in the third quarter, down to $1.37 billion, as a result of increased operating expenses and fees.

Tesla announced a decrease in net profit to 50 cents per share, compared to 72 cents last year, below analysts' estimates of 56 cents. The company mentioned rising restructuring costs and expenses for artificial intelligence projects as reasons for this decline, while revenues increased by 12%, reaching $28.09 billion, exceeding expectations of $26.54 billion. Although global vehicle deliveries rose by 7% in the third quarter, analysts warn that the disappearance of the $7,500 federal tax credit could affect future sales. In this context, Tesla has launched cheaper versions of its popular models, Model 3 and Model Y, but has not released the previously promised low-cost vehicle, estimated at $25,000-$30,000.