TSLA · 10-Q · 2026Q2 · Full report
Gross Margin Drivers
Tesla, Inc. · 2026-07-23 · Importance 49 · Surprise 32 · Matches filing data
Total gross profit was $4.75 billion in the quarter and $9.47 billion year‑to‑date, with total gross margin of 16.8% for the quarter and 18.7% for the six months. Automotive gross margin for the quarter was 16.9% (down from 17.2% prior year quarter) while automotive & services gross margin improved to 16.4% from 15.4% due to improved services margins and automotive sales changes. Energy generation & storage gross margin declined materially to 20.4% in the quarter from 30.3% a year ago, driven by deployment timing, sales mix and unfavorable warranty adjustments. Management cites changes in revenue mix, costs per unit, regulatory credits and foreign currency movements as primary drivers of gross margin fluctuations.
Key facts
- Total automotive cost of revenues for the six months ended June 30, 2026 was $29,865 million, versus $25,495 million for the six months ended June 30, 2025. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | negative | realized | -15.5% | Total automotive cost of revenues for the six months ended June 30, 2026 was $29,865 million, versus $25,495 million for the six months… |