Tag TSLA

Tesla is a bold automation play, driven by AI, vertical integration, and long-term vision despite near-term margin pressure. Read why TSLA stock is a buy...

STORY: Tesla's in for a "few rough quarters", says its CEO Elon Musk, citing U.S. government cuts in support for electric vehicle makers.That's as Tesla posted its worst quarterly sales decline in over a decade Wednesday.Overall revenue fell 12%, despite the launch of a refreshed version of Tesla's best-selling Model Y SUV - which investors had hoped would boost sales.Revenue and profit were also hurt by a 51% dive in sales of regulatory credits.Those credits are bought from Tesla by other automakers who have difficulty complying with government emissions rules.The U.S. government later this year is cutting tax credits of up to $7,500 for EV buyers.:: FileWhen asked on a quarterly results conference call about the credits, Musk predicted "a few rough quarters" before a wave of revenue from self-driving software and services begins late next year.Tesla shares fell nearly 5% after his comments.In the meantime, Tesla says it is working on a new, cheaper car - with a few initial units made by the end of June.But production would ramp up next quarter, slower than initially expected.The company also said it continued to expect volume production of its custom-built robotaxi - called the Cybercab - and Semi Truck in 2026.Much of the company's trillion-dollar valuation hangs on its bet on humanoid robots and on its robotaxi service.But one analyst - CEO of Systematic Ventures Max Wolff - was skeptical of its chances to turn fortunes."The problem is there's other guys who have done more rides with less issues in a Robotaxi, particularly Waymo. This is sort of a major competitor here who's been at this longer, done many more rides and seems to have had a smoother integration. For the robotaxi business to rescue Tesla, as some had hoped, it would have had to have gotten a lot further, a lot faster than it has."...

LONDON/MILAN (Reuters) -Tesla shares fell nearly 6% in early trading in Europe on Thursday, after Elon Musk's electric vehicle maker posted its worst quarterly decline in sales in over a decade. On a conference call, chief executive Musk said U.S. government cuts in support for electric vehicle makers could lead to a "few rough quarters" for the company before a wave of revenue from self-driving software and services begins late next year...

New car sales in Europe fell more than 5% in June, the European Automobile Manufacturers Association (ACEA) said on Thursday, in a reflection of the global challenges faced by automakers. Tesla lost market share for a sixth consecutive month despite a rise in overall sales of electric cars, while the four best-selling groups in Europe, Volkswagen, Stellantis, Renault and Hyundai, all sold fewer cars than in June 2024. WHY IT'S IMPORTANT European auto makers have booked multi-billion losses and issued profit warnings as they struggle to handle competition from China, U.S. import tariffs of 25%, and domestic regulations aimed at speeding up the EV transition...

Tesla shares tumbled in extended trading Wednesday after the EV maker's quarterly results fell short of Wall Street’s expectations and CEO Elon Musk warned of a "few rough quarters" ahead. Monitor these key chart levels...

Tesla's profit plunges again as the fallout from Musk's politics continues to repel buyers...