Overview

• Tesla’s second-quarter revenue fell 12% year-on-year to $22.50 billion while net profit declined 16% to $1.17 billion.
• Deliveries dropped 13.5% to 384,122 vehicles even as production held steady at 410,244, creating an inventory build of about 25,000 units.
• Initial units of Tesla’s new low-cost model began rolling off the production line in June, with mass production scheduled for the second half of 2025.
• The CFO said US tariffs have already cost roughly $300 million and warned that expiring federal EV tax credits will add headwinds in coming quarters.
• Elon Musk warned of “some difficult quarters” through late 2026 and highlighted Tesla’s accelerating shift toward AI, software and robotics revenue streams.