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They have a 22.6% GAAP gross margin excluding ZEV credits, BUT unlike every other car manufacturer Tesla doesn't account for R&D and engineering expenses a
by Enzolangellotti 11y ago
They have a 22.6% GAAP gross margin excluding ZEV credits, BUT unlike every other car manufacturer Tesla doesn't account for R&D and engineering expenses as a fraction of COGS (that's why Elon can claim they are up there with Porsche and Audi, but that's a blatant lie).
Just examine their 10-K. Sometimes Tesla can be so opaque and impervious to questioning.