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Tesla reports lower third-quarter margin
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(Reuters) — Tesla (NASDAQ:TSLA)'s third-quarter gross margin shrank from a year earlier as the electric automaker slashed prices to boost demand in the face of rising interest rates.
The company reported a gross margin of 17.9% for the quarter ended September, compared with 25.1% a year earlier, when it had not yet begun the price cuts. In the second quarter, Tesla posted gross margin of 18.2%.
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