Alphabet, Wall Street and Tesla
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Tesla, Earnings Call
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6hon MSN
The Tesla CEO said the company expects to expand their autonomous driver service to include customer-owned cars.
Tesla had previously reported deliveries of more than 384,000 vehicles in the quarter—a drop of more than 13% from the previous year—with production holding steady at just over 410,000 vehicles. This marks the second quarter in a row of reduced year-over-year deliveries.
Tesla points out early progress on robotaxis and bots, as revenue from electric vehicles plummets.
Tesla targets autonomous ride-hailing for half of U.S. by year-end while ramping Optimus and energy initiatives. Chipotle signals confidence. Trump to visit Federal Reserve.
The fallout from Elon Musk’s plunge into politics a year ago is still hammering his Tesla business as both sales and profits fell sharply again in the latest quarter.
2don MSN
Tesla said on Wednesday it has built initial versions of an affordable car, a move likely meant to stem the steep decline in sales the company has experienced in markets across the world.
Tesla shares took a hit Thursday after the company reported a 16% decline in automotive sales and a 12% decline in total revenue for the second quarter compared with one year ago.
Tesla shares sank Thursday after CEO Elon Musk said the company could face a “few rough quarters” as it transitions to a future focused less on selling cars and more on offering people rides in self-driving cars.