US Edition
Tesla’s Stock Is Tumbling After Elon Musk Failed to Shift the Narrative
UNITED STATES, JUL 24 – Tesla's automotive revenue fell 16% year-over-year to $16.7 billion with vehicle deliveries down 14%, amid rising competition and reduced regulatory credit sales, analysts say.
- On July 23, Tesla revealed a broad second-quarter decline, causing a nearly 8% stock plunge to $307.41 at press time.
- In the second quarter, revenue plunged to $22.5 billion, with automotive revenue down to $16.7 billion from $19.9 billion and deliveries falling 14% to 384,000 vehicles.
- In Europe, ACEA reports EU, UK and EFTA market share fell to 2.8% in June from 3.4%, and credit sales dropped over 50% to $439 million, with registrations down 22.9%.
- In early trading on Thursday, Bloomberg data show 45% of analysts still rate Tesla a buy, despite a stock plunge of up to 9%.
- In Austin, robotaxis rolled out in June with a human safety operator, Elon Musk claimed half-nation coverage by year-end, and Goldstein warned full launch won't come until 2028.
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45 Articles
Another setback for tech billionaire Elon Musk: Sales and profits of his electric car manufacturer Tesla have already fallen dramatically compared to the previous year. Difficult times are ahead for the company. There are several reasons for this.
Elon Musk revealed four major developments during Tesla’s earnings call — why they could be game-changers
Wall Street may be skeptical about Tesla’s upcoming quarters, but CEO Elon Musk made four surprising announcements that could be game-changers — if they prove true.
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Coverage Details
Total News Sources45
Leaning Left9Leaning Right6Center9Last UpdatedBias Distribution38% Left, 38% Center
Bias Distribution
- 38% of the sources lean Left, 38% of the sources are Center
38% Center
L 38%
C 38%
R 25%
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