$Tesla (TSLA.US)$$Stellantis NV (STLA.US)$ Stellantis head C...

Stellantis head Carlos Tavares said that the profitability of Tesla was declining as the rival U.S. automaker entered the real world of manufacturing and competition.

"...their profitability moved from more than 17% in the first half of 2022 to 10.5% in the first half of 2023," he said.

"They were more profitable than Stellantis, now they are less profitable than Stellantis".

Stellantis, the world's 3rd largest carmaker by sales, announced a rise in its revenue and operating profit for the first half of this year, above estimates, with a margin on adjusted EBIT almost unchanged at 14.4%.