Overview

• Tesla’s second-quarter auto deliveries dropped 13%, auto revenue plunged 16% to $16.7 billion, total revenue slid 12% to $22.5 billion.
• Investors voiced skepticism over Musk’s shift toward robotaxis alongside its broader autonomy agenda after the disappointing results; shares tumbled 8.2% following the July 23 earnings call.
• On the call Musk highlighted ride-hailing services, Full Self-Driving software, AI integration, humanoid robots as primary growth drivers for the company’s strategic pivot.
• Tesla introduced its robotaxi service in Austin in June; William Blair analysts warn that Waymo holds a six-year lead with a fleet that remains far larger.
• Lower-cost Chinese EV manufacturers alongside self-driving competitors such as Waymo, Baidu’s Apollo Go are applying pressure with the U.S. federal EV tax credit set to expire at the end of Q3.