Tesla beats Wall Street expectations to produce record number of vehicles

The report comes after Tesla slashed costs for its most popular vehicle models and drove a major increase in sales. The gross margin for the quarter was at 18.2% – representing a four-year low for Tesla but still higher than analyst expectations of 17.5%. But investors, who have been anxious for updates about Tesla’s Cybertruck model, may have been underwhelmed by executive responses about the sci-fi-inspired vehicle on the call. As is typical with Tesla earnings calls, Musk rattled off a number of lofty goals. He promised Tesla’s self-driving technology would be “10 times – possibly 100 times – safer than a human driver”.