Tesla’s sales fall most in a decade in another rough quarter

TESLA fell short of Wall Street’s expectations in one of the automaker's worst quarters in years, a sign of the toll that rising competition and a backlash against CEO Elon Musk have taken on the company.

- BLOOMBERG

Adjusted earnings were 40 cents per share, Tesla said Wednesday in a statement, just below the average analyst estimate. Revenue fell 12% to $22.5 billion (R396bn), the sharpest decline in at least a decade.

Still, the report was free of new bombshells and the company said it continues to move forward with robotaxi and affordable-vehicle plans, providing a measure of relief for investors. That comes “despite a sustained uncertain macroeconomic environment resulting from shifting tariffs, unclear impacts from changes to fiscal policy and political sentiment,” Tesla said.