Tesla is anticipating a disappointing Q2 earnings report, reflecting a 13.5 percent drop in deliveries compared to the previous year. Demand for their EVs has declined over the past 18 months, exacerbated by CEO Elon Musk's controversial actions. Despite such declines, investor optimism remains strong, with shares rising 50 percent since April's low. The removal of the $7,500 EV tax credit adds further pressure on the company, as Musk pivots toward a robotaxi service amidst criticism.
Demand for Tesla's EVs has dried up significantly over the past 18 months, driven largely by the divisive actions of CEO Elon Musk at a crucial time for the company.
Tesla's deliveries fell a record 13.5 percent this quarter compared to a year earlier, revealing the extent of the company's decline in performance.
Despite plummeting car sales, investor optimism remains resilient with Tesla's shares rallying 50 percent since their lowest point in April.
The removal of a $7,500 tax credit for US-made EVs adds pressure on Tesla, particularly in light of waning demand for their products.
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