Tesla loss shows perils of lower-priced Model 3 | Washington Post

Later in the article: "Tesla also announced Wednesday that another member of Musk’s executive team, Chief Technology Officer J.B. Straubel, was stepping down from his role. Straubel, a Tesla co-founder, would continue to serve as a senior advisor, Musk said."

"Tesla reported a second-quarter loss even as it made record deliveries, prompting renewed questions about the company’s future in a year when investor concerns have already sent its stock plummeting.

Although Tesla’s revenue rose nearly 40 percent over the same quarter last year to $6.3 billion, the company still reported a loss of $408 million.

The results suggest Tesla is beginning to face a classic auto industry problem: narrower margins stemming from its mass-market offerings, which are becoming a popular alternative to its more expensive models."

Tesla loss shows perils of lower-priced Model 3 | Washington Post