Tesla shares drop 6% in premarket trading after auto sales plunge again
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Tesla is facing stiffer competition globally from electric vehicle players, especially low-cost competitors from China.
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July 24, 2025
10:09 AM
CNBC
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The re indicates that This analysis suggests that 's worth noting that Tesla s fell on Thursday after the company reported second-quarter automotive sales that dipped again
Musk said Tesla "bably could have a few rough quarters" ahead as a result of the expiration of federal electric vehicle tax credits, given the current landscape
Tesla is facing stiffer competition globally from electric vehicle players, especially low-cost competitors from China
In this articleTSLA your favorite stocksCREATE FREE ACCOUNTElon Musk, during a news conference with President Donald Trump, inside the Oval Office at the White House in Washington on May 30, 2025 (which is quite significant), given current economic conditions
Tom Brenner | The Washington Post | Getty ImagesTesla s fell 6% in premarket trading on Thursday after the company reported a second straight quarter of declining automotive sales
Additionally, Elon Musk's electric carmaker reported a top and bottom line miss on second-quarter results, noting that automotive revenue fell 16% year-on-year to $16 (which is quite significant), in this volatile climate
On an earnings call, Musk said Tesla "bably could have a few rough quarters" ahead as a result of the expiration of federal electric vehicle tax credits, in today's financial world. "I am not saying that we will, but we could," Musk said, in light of current trends
Tesla has been facing rising competition in key China and Europe, especially from lower costs Chinese electric vehicle players
Data from the European Automobile Manufacturers Association, or ACEA, released on Thursday show Tesla's new car registrations, declined in June in Europe
Tesla s have been hammered this year with the stock down nearly 18% to date, not including the Thursday premarket move, given current economic conditions
Watch now4:0104:01Tesla second-quarter earnings: The key takeawaysSquawk Box EuropeAlong with Tesla's core auto coming under pressure, Musk's own political activity has been in focus
Additionally, The billionaire played a key role at the Department of Government Efficiency, or DOGE, under President Donald Trump's administration and has endorsed Germany's extreme anti-immigrant AfD party, amid market uncertainty
In recent months, the two former allies have clashed over the president's spending bill (something worth watching)
Moreover, However, Musk has since said he is forming his own political party
Some investors have urged the billionaire to step away from, for fear that his involvement is hurting Tesla's brand and sales
At the same time, This's a story
Please check back for more, considering recent developments.
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