In its first-quarter earnings report, Tesla revealed a striking 71% fall in profits and a 20% drop in auto revenues year-over-year. Amid declining sales, Elon Musk discussed the anticipated launch of a robotaxi and a more affordable vehicle model, expected to attract a wider customer base and undercut competing Chinese EVs. Analysts noted that while stock prices saw a modest rise post-earnings, the ongoing challenges and necessary regulatory approvals for full self-driving tech remain critical to Teslaâs future viability and success.
Tesla's first-quarter profits dropped 71%, with auto revenues down 20% year over year.
Musk's earnings call promises are exciting, but won't deliver results until mid-2026 or later.
A more affordable model could open Tesla's potential customer base, helping it compete against low-cost Chinese EVs.
Cantor Fitzgerald analysts note that regulatory approval for full self-driving and the robotaxi remains a key risk for Tesla's stock price.
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