Tesla, according to Elon Musk, will prioritize sales growth over profit.
Elon Musk, the CEO of Tesla Inc., said on Wednesday that his company would prioritize sales growth over profit in a slowing economy, continuing the pricing war he launched at the end of last year. The company, which aggressively cut prices in places like the US and China to boost demand and fend off mounting competition, reported its lowest quarterly gross margin in two years, failed market projections, and withheld another crucial margin statistic from investors another crucial margin statistic. In after-hours trading, the automaker’s shares in Austin, Texas, fell 6%. “It’s better to shift a large number of cars…