Tesla reported a 14% decline in vehicle deliveries for the second quarter, totaling just over 384,000 vehicles. This marks the second consecutive quarterly drop amid rising competition from companies like BYD in China. Musk’s controversial role as a government czar has been cited as a factor influencing this decline. Following a spat with Trump over a spending bill which could affect electric vehicle subsidies, analysts believe the worst may be over for Tesla. They anticipate a pickup in sales due to potential interest in EV tax credits before expiration.
Tesla's second quarter saw a 14% decline in vehicle deliveries, marking the second consecutive quarterly drop as competition increases and Musk’s government role impacts performance.
Musk's controversial stint as a government czar and his public spat with Trump over a spending bill have contributed to declining deliveries at Tesla.
Trump suggested that Tesla’s subsidies could be cut, proposing a review by the ad-hoc Department of Government Efficiency to examine Musk's financial support.
Despite the declines, some analysts predict that the figures could mark the bottom, with expectations of a sales uptick as buyers rush to take advantage of the EV tax credit.
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