"Elon Musk cautioned that Tesla might face a 'few rough quarters' due to a decline in revenue and challenges such as the end of US EV tax incentives and regulatory uncertainty."
"Tesla reported a 12% revenue drop to $22.5 billion for the second quarter, missing analysts' expectations, with net income down 16% to $1.2 billion."
Tesla has reported a substantial revenue decline, dropping 12% year-on-year to $22.5 billion, with net income down 16% to $1.2 billion. This shortfall has led to a 4% drop in share prices in after-hours trading. Elon Musk indicated that Tesla is experiencing a "weird transition period" influenced by the end of US EV tax incentives and trade policy fluctuations. Deliveries decreased by 14% compared to the previous year, affecting overall vehicle demand. Although production of a lower-cost model has begun, mixed results from updates to the Model Y SUV raise concerns about future sales.
Read at Business Matters
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