Tesla's deep price cuts bite into its earnings

But the EV maker continues installing a record number of Superchargers, as its average car cost drops to $37,500.

Tesla is finding out that competition comes with a cost.

Yesterday, the EV and EV infrastructure company reported earnings for its third quarter that dropped by $1.8 billion over the same period a year earlier, owing a good chunk of the declining profits to its steep price cuts in a growing market. 

At the same time, however, Tesla reported that it added …