Overview

• Total revenue for the quarter declined 12% year-over-year to $22.5 billion and net income dropped 16% to $1.1 billion.
• Automotive revenue fell 16% to $16.7 billion while income from emission regulatory credits tumbled 51% to $439 million.
• Elon Musk cautioned that the expiration of the $7,500 federal EV tax credit in September and rising tariffs will pressure results over the coming quarters.
• Tesla’s European market share slipped from 3.4% to 2.8% amid intensifying competition from lower-cost electric vehicles.
• To offset near-term headwinds, leadership is accelerating its Austin robotaxi trial and planning to scale Optimus humanoid robot production as future growth catalysts.