PALO ALTO, California -- Tesla reported a fourth straight year-on-year quarterly profit drop on Tuesday as the U.S. electric-vehicle maker faces weakening EV demand in key markets, including China, where heated competition has pushed local players like BYD to cut prices.
Electric vehicles
Tesla's main export hub in Shanghai reels from EU tariffs, weak EV demand
The U.S. automaker's profit drops for the fourth quarter in a row
Tesla shares have been highly volatile this year © Reuters
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