Tesla pledges to make cheaper cars
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Tesla, Elon Musk
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Tesla is facing a rough path ahead and will likely struggle unless Elon Musk fixes his public image, longtime investor Ross Gerber says.
Tesla shares are falling after CEO Elon Musk warned of “a few rough quarters” as the company shifts focus to offering a self-driving taxi service.
The earnings report covers Tesla’s finances for April, May and June — a period that overlapped with Musk’s tenure in the White House. Musk left his government job May 30.
Tesla points out early progress on robotaxis and bots, as revenue from electric vehicles plummets.
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Elon Musk warned of difficult times ahead for Tesla Inc. after one of the automaker’s worst quarters in over a decade.
Tesla and its CEO Elon Musk are walking an increasingly difficult tightrope as the company navigates declining electric vehicle sales and an autonomous driving business that has yet to get off the ground.
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The fallout from Elon Musk’s plunge into politics a year ago is still hammering his Tesla business as both sales and profits dropped sharply again in the latest quarter. The car company that has faced boycotts for months said Wednesday that revenue dropped 12% and profits slumped 16% in the three months through June as buyers
Not a very good showing for Tesla despite largely in-line second-quarter earnings. The stock is losing more than 4% in the extended session, and investors got spooked by Elon Musk's final words about potential "rough quarters" ahead for Tesla.