Tesla's profits took a nosedive in the second quarter of 2024, even though their revenue went up a bit.
This big drop in profits is mainly because Tesla had to lower prices for their cars, and people aren't buying as many as before.
Competition in the electric car market is getting tougher, and Tesla is facing challenges keeping up with the demand.
Tesla's gross margins, which show how much profit they make on each car, have declined, causing worries among investors.
