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Tesla warns of sales growth slowdown as it prepares for next-gen launch in late 2025
Price cutting continues to sap profit margins.
Also fewer Tesla vehicles qualify for the federal EV tax credit, thanks to strict new rules for the sourcing of battery materials. It was a pretty momentous quarter for the company, with the long-awaited release of the highly polarizing Cybertruck, as well as news that the refreshed version of the Model 3 would be coming to North America. Tesla is also facing the existential challenge of losing its place as the world’s top producer of electrified vehicles to BYD.
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