Tesla is facing stiffer competition globally from electric vehicle players, especially low-cost competitors from China.
Tesla shares fell on Thursday after the company reported second-quarter automotive sales that dipped again.
Musk said Tesla “probably could have a few rough quarters” ahead as a result of the expiration of federal electric vehicle tax credits.
Tesla is facing stiffer competition globally from electric vehicle players, especially low-cost competitors from China.
Tesla shares fell 6% in premarket trading on Thursday after the company reported a second straight quarter of declining automotive sales.
Elon Musk’s electric carmaker reported a top and bottom line miss on second-quarter results, noting that automotive revenue fell 16% year-on-year to $16.
