>I am looking at Q2 statement and gross margin before ZEV is 20%. With ZEV it is 21%.
The statement given is ex ZEV and stock based comp, not ex ZEV/GHG and Services/Other. ZEV/GHG accounted for ~2% of margin in the first half of 2018 while Services/Other accounted for a little over 5%. Check the 10-Qs.
> Also, gross margin is literally margin after cost of goods. Doesn't include SG&A expense.
Most OEMs use the delta between the retail price and the bulk invoice including cost of stores to calculate their margin.
Sorry, it took me a while to get back. Why would stock based comp be included in gross margin ? That is not part of Cost of Goods sold. That is reflected in net income.
I have no idea what your last statement means. There is US Accounting definition of what gross margin is and it is Revenue - Cost of Goods. Other expenses such as compensation, stores, are part of operational expense and it included in net income.
The statement given is ex ZEV and stock based comp, not ex ZEV/GHG and Services/Other. ZEV/GHG accounted for ~2% of margin in the first half of 2018 while Services/Other accounted for a little over 5%. Check the 10-Qs.
> Also, gross margin is literally margin after cost of goods. Doesn't include SG&A expense.
Most OEMs use the delta between the retail price and the bulk invoice including cost of stores to calculate their margin.