Tesla's Shares Drop as Q2 Earnings Disappoint, Prompting Concerns Over Increased Competition and Slowing Sales

Benzinga
Benzinga
  • 3 months ago
Tesla shares fell more than 8% in premarket trading after the electric carmaker reported second-quarter earnings that missed expectations.
Transcript
00:00It's Benzinga, and here's what's on the block.
00:03Tesla shares fell more than 8 percent in pre-market trading after the electric carmaker reported
00:07second-quarter earnings that missed expectations.
00:10Competition is increasing, especially in China, which is one of Tesla's key markets.
00:14The company has been forced to slash prices and offer discounts amid slowing sales.
00:19Tesla remains the top electric vehicle seller in the U.S., but it is losing market share
00:22to growing rivals due to its aging sedan and SUV lineup and Elon Musk's controversial
00:27comments.
00:29Tesla plans to introduce a new affordable mass-market car in the first half of 2025
00:33to boost sales.
00:34Elon Musk envisions driverless robo-taxis generating revenue for Tesla owners and promises
00:39the first ride next year.
00:41For all things money, visit Benzinga.com.

Recommended

0:41
I
Up next
Venture Capital Funding For Generative AI Startups Account For 40% Of All Cloud Funding
Benzinga
3:18
SHOCKING: Khalistani Leader Pannun Exposes SFJ’s Links to Trudeau’s Office in CBC Interview| Watch
Oneindia
0:43
GM Partners With Lithium Americas In $625 Million Joint Venture To Develop Nevada Lithium Mine
Benzinga
0:46
Harris Proposes Medicare Funding for At-Home Care As Costs Outpace Inflation, Weighing On Families
Benzinga
0:39
ASML Shares Drop 16% After Releasing Weak Sales Forecast
Benzinga
0:35
Morgan Stanley Beats Q3 Estimates, Profits Surge More Than 30%
Benzinga
0:36
U.S. Crude Oil Prices Slip Below $71 on Middle East Tensions Easing
Benzinga
0:38
Amazon Web Services Invests $500 Million In Small Modular Nuclear Reactor To Power AI
Benzinga
0:38
Wells Fargo CEO Says US Consumer 'Extremely Resilient,' Sees Consumer Spending Rising Steadily
Benzinga
1:10
Tesla Reportedly Scraps Low-Cost Car Plans, Elon Musk Denies Story
Benzinga
1:23
Spacex Triumphs Amid Boeing Struggles
Benzinga
0:54
Tesla Stock Is Plunging Over 7% In Wednesday's Pre-Market After Q2 Earnings: What's Going On
Benzinga
3:30
Watch| India's Supreme Court Unveils New Statue of Justice: Open Eyes and Constitution in Hand
Oneindia
0:43
Investors Skeptical as Major U.S. Automakers Report Mixed Earnings and Automakers Face Tough Competition from Chinese Manufacturers in EV Market
Benzinga
3:25
The Kutch Story |Emami Agrotech Bleeds | Toxic Fumes Kill 5 Workers | WATCH
Oneindia
1:33
Tesla Full Self-Driving Updated to Require Supervision
Benzinga
13:25
Tesla Stock Plunges, Eyes 8-Month Low After Q4 Letdown - Gordon Johnson - CEO, Founder - GLJ Research
Benzinga
0:51
Tesla Recalls Nearly 200K Vehicles To Fix Rearview Issue Amid Earnings Dip And Elon Musk's Wealth Decline
Benzinga
0:43
Tesla To Delay Robotaxi Event By 2 Months, Stock Slides 7%
Benzinga
0:39
Tesla's Robotaxi Prototype Debut Delayed for Design Overhaul as EV Giant's Future Plans Hinge on Autonomy. CEO Elon Musk Says Everything Else 'Just Noise'
Benzinga
0:50
Musk's Humorous X Response
Benzinga
0:58
'Just Being Very Cautious,' Says Elon Musk As Tesla Reportedly Resumes Cybertruck Deliveries After Brief Halt
Benzinga
0:58
Tesla Bull Gary Black Sees Elon Musk's $56B Pay Package Pass 'Easily' At Shareholder Meeting; Expects Stock To Jump 3-5% Over The Next Few Days
Benzinga
1:15
Jim Cramer Says Tesla Stock Will 'Keep Running Until All Shorts Are Crushed,' Praises Elon Musk's China FSD Deal As 'Perfect Example Of Redefining Narrative'
Benzinga
0:55
Attention, Tesla Investors! Fund Manager Lists 4 Key Catalysts That May Boost Ailing Stock
Benzinga