Tesla, Elon Musk and Model Y
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22hon MSN
A pared-down Model Y might do little to lift Tesla sales. To really get people excited about the brand again, Tesla needs “actual new vehicle models,” one analyst said.
Elon Musk warned of difficult times ahead for Tesla Inc. following one of the carmaker’s worst stretches since it first started producing electric sedans over a dozen years ago.
In 2020, Tesla controlled nearly 80% of the U.S. market, based on data from Experian. By 2022, that was down to 65.4%, followed by 55% in 2023. This year, per Cox Automotive, that share continues to decline, hovering around 45% as of July 11.
The electric-vehicle maker’s net income dropped 16% in the second quarter, marking another quarter of steep declines at the company as automotive sales continue to fall.
One of the more glaring omissions from Tesla’s late Wednesday earnings was that the EV maker Tesla did not update its 2025 outlook as promised.
Tesla's shares sank nearly 7% in premarket trading as the EV giant grapples with sinking sales and mounting doubts over its future under CEO Elon Musk, deepening investor anxiety after another shaky quarter.
4don MSN
Tesla's registrations in the West Coast state fell more than 20% in the second quarter compared with the previous year, according to new data.
A recent spike in demand for electric vehicles ahead of soon-to-expire federal tax credits has led Connecticut to lower some of its own incentives for car buyers.
Elon Musk warned of difficult times ahead for Tesla Inc. after one of the automaker’s worst quarters in over a decade.
Eager to capitalize, Gov. Kelly brokered a deal with Panasonic to build a massive $4 billion lithium-ion battery plant in De Soto, aimed at supplying Tesla’s new factories in Texas. A multi-billion dollar tax incentive package secured Panasonic’s investment, made possible by the bipartisan APEX Act passed by the state Legislature.
Elon Musk says Tesla could hit a $20 trillion valuation with “extreme execution.” But with earnings slipping and Bitcoin holdings limited, is that even realistic? Here's the math behind the moonshot.