[HIGHLIGHTS] The negative impact of price cuts is highlighted? Tesla's first-quarter profit plunged more than 20%, and officials said the rate of decline in operating margin remained manageable

Tesla's total revenue in the first quarter was about 2023.233 billion US dollars, a year-on-year increase of 3.24%. Net profit was about US$38.25 billion, down more than 13% year- on-year.

Tesla delivered a total of more than 42,2 electric vehicles worldwide in first quarter of this year. Tesla's sales growth was mainly due to its repeated price cuts in major markets around the world during the reporting period. Tesla explained that "underutilized new factories" depressed margins, combined with higher raw materials, commodities, logistics and warranty costs.