Tesla profit plunges in 2nd quarter
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Tesla’s financial position is getting worse, as the fallout continues from CEO Elon Musk’s politics. The electric automaker reported Wednesday that both revenue and profits fell in the second quarter of the year compared to a year earlier.
Musk said that half the US population could have access to a Tesla robotaxi by the end of 2025. That’s a huge leap from the company’s current limited rollout.
The company reported the steepest decline in quarterly revenue in more than a decade, with a 12% fall, as it battles strong competition from cheaper electric vehicles and a backlash against CEO Elon Musk’s political views.
Politics. Elon Musk and other Tesla executives talked about the negative impact of President Donald Trump’s tariff policy and tax bill, but Musk didn’t grab the chance to tout the “America Party” he said he was starting earlier this month.
The Tesla diner and drive-in had a surprise opening on Monday, serving a mix of milkshakes and charging stations
The CEO is already eyeing expansion for his Tesla Diner dishing merchandise and food served by Optimus robots.
Tesla's earnings are due today with an investor call at 5:30 p.m. ET. Elon Musk's politics have rocked TSLA stock, with shares down 18% YTD.