Tesla's first-quarter net income tumbles 55% as falling global sales and price cuts reduce profits

Editor's Note: The above video is KXAN reporting on Tesla's recent layoffs from April 15, 2024.(AP) — Tesla’s first-quarter net income plummeted 55% as falling global sales and price cuts sliced into the electric vehicle maker’s revenue and profit margins.The Austin company said it made $1.13 billion from January through March compared with $2.51 billion in the same period a year ago.Revenue was $21.3 billion, down 9% from last year as worldwide sales dropped nearly 9% due to i