Tesla's second-quarter revenue fell sharply, marking its steepest year-over-year decline in over a decade. CEO Elon Musk warned of potentially rough upcoming quarters due to shifting tariffs and uncertainties in fiscal policy. Following the earnings report, Tesla shares dropped approximately 4.4%. The company is working on expanding its Robotaxi services and plans to launch a more affordable Model Y by 2025. Musk expressed confidence that Tesla's financial outlook will be robust by the end of the next year, countering concerns amidst evolving regulations and waning EV incentives.
Tesla plans to expand Robotaxi services and launch a cheaper Model Y lookalike by the end of 2025.
Musk indicated the EV maker is headed into a "weird transition period" with potential rough quarters ahead.
Tesla's second-quarter earnings showed its steepest year-over-year revenue decline in at least a decade.
Musk believes Tesla's economics will improve significantly by the end of next year.
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