Tesla reports 12% revenue drop in first quarter as Musk’s politics repel buyers; shares fall 3%

Tesla continues to feel the impact of Elon Musk’s entry into politics a year ago, and the company declares a more steep decline in both sales and snow in this quarter.

On Wednesday, as the electric car manufacturer, consumer boycotts and decrease demand continues, the income fell 12% and the profits fell 16% during the April-June period.

The Forrester Analyst Dipanjan Chatterjee wrote in a e -mail, “The perception of CEO Elon Musk rubbed brightness of what was once a beloved and rising automotive brand”. Tesla is a toxic brand that cannot be separated from its leader ”.

The three -month profits in the electric vehicle, battery and robot company fell from 1.17 billion dollars or $ 1.4 billion per cents or 40 cents. This was the third quarter in a row that the profit fell. On a corrected basis, the company said that the Wall Street predictions have won 40 cents for the stock.

Revenue fell from $ 25.5 billion to 22.5 billion dollars above $ 25.5 billion above the Wall Street’s forecasts during the April -June period.

Tesla shares fell by 3% in post -overtime transactions.

Musk talked less about the company’s earnings conference about car sales, and more about Robotaxis, automatic driving software and the company’s future. However, these enterprises have not yet started, and the gap between promises and profits was evident in the second quarter.

Morningstar analyst Seth Goldstein said, “The focus of the administration will now go to robotaxes and get away from the growth of deliveries,” he said.

A major challenge is that potential buyers are still undermining not only in the US but also in the purchase of Europe’s Teslas. Musk adopted far -right candidates for the office on the continent, alienating many people on the market for Great Britain, France, Germany and other places. And China’s BYD and German Volkswagen, rival electric vehicle manufacturers, stealing the market share and put into weakness.

Tesla, Austin, Texas’daki paid pickup Robotaxi began to provide and soon hopes to introduce driverless cabins in other cities. Musk said he expected hundreds of thousands of cabins on the US roads by the end of next year.

In his call after earnings, Musk said that the service would probably be present as ız half of the US population-at least our target until the end of the year, subject to regulatory approvals ”.

“We are very cautious. We don’t want to get any chance.” He added.

The test work in Austin mostly went without any problems, but there were several worrying events, such as a robotaxi fell from a lane for opposing traffic.

Autonomous taxis, the billionaire who raises space race and home production is faced with a challenging competition. Now, Waymo, the dominant provider, has already recorded his paid trip in several cities and recently.

In the meantime, other threats arise. The new federal budget, which is accepted by the Congress, eliminates a loan up to $ 7,500 to buy an electric car. In addition, it deletes car manufacturers’ penalties to exceed carbon emission standards. This threatens to sell Tesla’s “carbon loans ına to traditional automobile companies that regularly undergo emission standards.

Tesla won $ 439 million from $ 890 million from $ 890 million a year ago.

Musk said, “We are in this strange transition period in the United States,” Musk said, a few difficult months until June next year. Nevertheless, when you reached autonomy in the second half of next year, I would definitely be surprised if Tesla’s economy was not very compelling until the end of next year. “

This is a way to increase these muscles while waiting for the future: a cheaper model. The company is now planning to launch it in the last three months of the year. Tesla had previously said it would happen until June.

Musk also said that he expects the regulatory approval and expects to introduce the so -called full -self -driving software in some parts of Europe by the end of the year. Musk had previously expected it until March this year. The feature in the USA is the wrong name because it is only a driver’s help feature.

In the robot business, Musk said that Tesla expects explosives growth as it increases the production of humanoid aids to 100,000 in five years.

“We will look from a world where robots are too widespread from a world where they are rare,” he said.

When asked if he would ask him to check more than the current 13% shares in Tesla, Musk said he didn’t want more, but he wasn’t too much.

“I think my control over Tesla should be enough to make him go in a good direction,” he said, “But not so much control that I can’t get away if I go crazy.”

Gross margins for the quarter, which has a measure of earnings for each income, fell from 18% to 17.2% compared to the previous year.

A quarter of an emphasis was far from cars and robots: the company’s investment in Bitcoin. This bet created a paper gain of $ 284 million compared to a loss in the previous quarter.