Tesla first-quarter profits slid after it repeatedly cut vehicle prices

Tesla's profits in the first three months of the year fell 24% from a year ago as the electric car maker slashed prices across its vehicle lineup. The Austin, Texas, electric car and solar panel company said Wednesday it made $2.5 billion from January through March, down from $3.3 billion a year ago. Revenue rose 24% to $23.3 billion, but the company's operating profit margin fell. Overnight Wednesday, Tesla lopped $3,000 off the U.S. starting prices of all versions of the Model Y, its top-selling model. The cuts dropped the...