Tesla’s earnings took another hit this quarter, with profits down 16% and sales falling 12%, according to the Associated Press. The company is losing customers globally, with many citing Elon Musk’s political stances as a major turnoff.
While Musk focused on robotaxis and humanoid robots during the earnings call, those ventures remain unproven. Sales of electric vehicles are slipping in key markets like Europe, and U.S. buyers now face fewer incentives due to federal budget changes.
To counter losses, Tesla is eyeing a cheaper model later this year and hopes its robotaxi service and Full Self-Driving software will scale up by 2026.
FingerLakes1.com is the region’s leading all-digital news publication. The company was founded in 1998 and has been keeping residents informed for more than two decades. Have a lead? Send it to [email protected].