Tesla profit, revenue top Wall Street targets but profit margin slips

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Reuters UK

By Hyunjoo Jin and Akash Sriram (Reuters) - Tesla Inc beat Wall Street targets for fourth-quarter revenue and profit on Wednesday despite a sharp decline in vehicle profit margins, and it sought to reassure investors that it can cut costs and continue to generate cash as competition intensifies in the year ahead. Tesla forecast a 37% rise in car volume for the year, to 1.8 million vehicles, slowing the pace of growth from last year even as it made aggressive price cuts. GRAPHIC: Tesla expects to deliver 1.8 million vehicles this year (https://www.reuters.com/graphics/TESLA-RESULTS/jnpwywnbrpw/...

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