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Tesla, Inc., an innovative electric vehicle manufacturer, reported sales revenue of $2,500,000 and cost of goods sold (COGS) of $1,800,000 for the fiscal year 2023.
Tesla, Inc., an innovative electric vehicle manufacturer, reported sales revenue of $2,500,000 and cost of goods sold (COGS) of $1,800,000 for the fiscal year 2023. Compute the gross profit margin for Tesla, Inc. during this period. Elaborate on the significance of gross profit margin as a performance metric, particularly in the context of Tesla's business model and the competitive landscape of the automotive industry. Discuss factors that may influence changes in Tesla's gross profit margin over time.
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