Tesla Profit Falls 16% as It Becomes ‘Toxic Brand’
UNITED STATES, JUL 24 – Tesla’s second-quarter profits fell 16 percent to $1.2 billion due to tax credit expiration, tariffs, and competition from cheaper electric vehicles, CEO Elon Musk warned of rough quarters ahead.
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Tesla experienced the second decline in profits in a row. Elon Musk's electric car manufacturer earned $1.17 billion in the last quarter, 16 percent less than a year earlier. Dietmar Deffner and Holger Zschäpitz talk about this and other topics of the week.
Tesla profits fall for third consecutive quarter
Tesla’s profits fell for the third consecutive quarter. The company still hasn’t released a lineup of newer, cheaper EVs to compete with the discount models offered by its competitors, especially China’s BYD, for markets outside the US. Sales of its much-maligned Cybertruck flopped 50% compared with last year. And the road ahead will likely remain bumpy: CEO Elon Musk said the cuts to EV tax credits signed by Trump this month will lead to a “rou…
Tesla shares fall 8% after reporting profit drop - Kahawatungu
Tesla shares tumbled more than eight percent early Thursday after it reported lower profits and CEO Elon Musk warned the company faced more potentially “rough” quarters ahead. Near 1415 GMT, Tesla shares were at $304.15, down 8.4 percent. Tesla reported second-quarter profits of $1.2 billion, down 16 percent from the year-ago level, its third quarter in a row in which profits fell. Musk, on an earnings conference call, suggested the company’s re…
The shares of the electric vehicle manufacturer Tesla plummeted by more than 9% in its first hour of opening of the New York Stock Exchange after announcing on Wednesday a fall of 16% in its profit in the second quarter of this year. With these results, Tesla already has two consecutive quarters where its profits have been reduced by its lower sales of vehicles both in the United States, China or Europe. Tesla reduced by 16% its profits in the s…
Tesla reports revenue drop; future rides on robotaxis
Tesla reported its second consecutive quarter of falling automotive revenue, down 16% as demand for its electric vehicles continued to ease. Vehicle deliveries also slipped by 14% during the quarter. Overall revenue came in at $22.5 billion which is a 12% decline while net profit fell 16%. This is a sharp drop from the $25.5 billion it made during the same period last year, marking its biggest revenue dip in over ten years, as highlighted by Reu…
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