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Pro@programming.dev

Tesla’s earnings hit a new low, with largest revenue drop in years (text.npr.org)

submitted 3 weeks ago* (last edited 3 weeks ago) by Pro@programming.dev to c/Technology@programming.dev

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Tesla on Wednesday reported a drop in its profit during the second quarter, as the electric vehicle maker continues to struggle despite CEO Elon Musk's pivot back to focusing on his companies after his controversial role leading the Trump administration's government cost cutting efforts.

The company's electric vehicle sales have been flagging, and earlier this month it reported a drop of 13.5% in the quarter, compared with the same period a year ago. On Wednesday, Tesla said its net income also suffered, slumping 16% year-on-year.

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[–] Semi_Hemi_Demigod@lemmy.world 11 points 3 weeks ago

If Musk had iterated on his existing cars, improving designs and making something akin to the Beetle or the Mustang - a car young people liked and could afford - he might have had a chance.

But, yeah, I’m keeping my old, dumb cars as long as I can wrench them into life.