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Arthur T Knackerbracket has processed the following story:
As expected, last night’s Tesla earnings announcement brought more bad news for the challenged EV-maker with 13.5pc less vehicles delivered in Q2.
Elon Musk’s Tesla woes continue as the electric vehicle (EV) maker again announced disappointing quarter two results, with its biggest decline in revenues in over a decade. And the future does not look bright with the loss in electric vehicle incentives on the way thanks to Donald Trump’s ‘Big Beautiful Bill’.
Revenues at Tesla fell 12pc in Q2 to $22.5bn. On an earnings call, the normally optimistic Musk warned of “rough quarters” ahead, when pressed on the loss of the EV incentives, and markets reacted with a drop of up to 5pc in the share value.
Most analysts believe the launch of a promised new affordable Tesla is the short-term fix, but there was little yesterday to reassure them. Having originally said the long-awaited affordable Tesla would start builds in the first half of the year, it said yesterday that “the first builds” started only in June. Musk mentioned on the call that the new model would be a version of the existing Y model.
“A lightly refreshed product offering, plus increasingly compelling alternatives from competitors in Asia, Europe and North America make it harder to sell Teslas than has been the case until quite recently,” said Forrester principal analyst, Paul Miller.
“The withdrawal of EV incentives in several countries makes the vehicles less attractive and the full impact of tariffs imposed by the US and other countries is not yet clear.”
On the earnings call, Musk continued to promote the idea of his robotaxis as the proverbial white horse that would bring Tesla back to success, but the Austin robotaxi pilot got off to a shaky start and many question Musk’s optimism when it comes to reaching his huge ambitions.
“During the investor call, Elon Musk talked about ‘getting the regulatory approvals’ to expand the Austin pilot even further, and to launch in the Bay Area, Arizona, Nevada and Florida soon,” said Miller. “He went so far as to suggest the company ‘could’ address half the US population by the end of 2025, ‘subject to regulatory approvals’.
“That caveat is an important one, as regulatory approvals take time and there is no evidence that these formal applications to the separate state regulatory processes have begun.”
(Score: 2) by sgleysti on Sunday July 27, @04:14AM
Reminds me of the poem the freeway life by Charles Bukowski, reproduced below. The track he's talking about is the horse racing track.
some fool kept blocking me and I finally got around him, and
in the
elation of freedom I ran it up to 85 (naturally, first checking
the rear
view for our blue suited protectors); then I felt and heard the
SMASH of a hard
object upon the bottom of my car, but wanting to make the
track I willed
myself to ignore it (as if that would make it vanish) even
though I began
to smell gasoline.
I checked the gas gauge and it seemed to be holding . . .
it had been a terrible week already
but, you know, defeat can strengthen just as victory can
weaken, and if
you have the proper luck and the holy endurance the gods just
might deliver
the proper admixture . . .
then
traffic backed up and stopped, and then I really smelled gas and
I saw my
gas gauge dipping rapidly, then my radio told me that a man
3 miles up
on the Vernon overpass had one leg over the side and was
threatening
suicide,
and there I was threatened with being blown to hell
as people yelled at me that my tank was broken and pouring
gasoline;
yes, I nodded back, I know, I know . . .
meanwhile, waving cars off and working my way over to the
outer lane
thinking, they are more terrorized than I am:
if I go, those nearby might go also.
there was no motion in the traffic—the suicide was still trying
to make
up his mind and my gas gauge dipped into the red
and then the necessity of being a proper citizen and waiting for
opportunity
vanished and I made my move
up and over a cement abutment
bending my right front wheel
I made it to the freeway exit which was totally
clear
then worked on down to a gas station on Imperial Highway
parked it
still dripping gas, got out, made it to the phone, got in a call
for the tow truck, not a long wait at all, nice drive back in
with a black
fellow who told me strange stories about stranded
motorists . . .
(like one woman, her hands were frozen to the wheel, took 15
minutes of
talking and prying to make her let go.)
had the car back in a couple of days, was driving back from the
track,
hit the brake and it wouldn’t go down, luckily I wasn’t on the
freeway
yet, cut the ignition, glided to the curb, noted that the steering
column cover had ripped loose and blocked the brake, ripped
that away, then
ripped some more to make sure, then a whole mass of wires
spilled out,
s h i t . . .
I turned the key, hit the gas but the car STARTED
and I drove off with the dangling wires against my leg
thinking
do these things happen to other
people or am
I just the chosen one?
I decided it was the latter and got onto the freeway where
some guy in a volks swung over and blocked my
lane
whereupon I swung around the son-of-a-bitch and hit
75, 80, 85 . . .
thinking, the courage it took to get out of bed each
morning
to face the same things
over and over
was
enormous.