
More bad news for Elon Musk as Tesla deliveries miss target again
A total of 384,122 Teslas were delivered from April to June this year, a 13.5% drop on the same period last year and the second quarter of slumping output.
Wall Street analysts had expected Tesla to report about 1,000 more deliveries.
It's bad news for Tesla chief executive Elon Musk in a week of attacks from President Donald Trump on him personally, as well as his companies.
Mr Musk found himself on the wrong side of Mr Trump and the majority of US congresspeople in his opposition to the so-called big beautiful bill approved by the US Senate.
His criticism of the inevitable debt rises the bill will result in led Mr Trump threatening to end subsidies for Mr Musk's numerous businesses and to deport him.
1:25
His role as founder and chief executive of numerous businesses has made him the world's richest man, according to Forbes.
As well as Tesla, Mr Musk founded space technology company SpaceX and neurotechnology company Starlink. He also acquired the social media company Twitter, which he rebranded X.
It was the poor performance of Tesla that pushed him out of full-time politics and back to the Tesla offices.
After months of share price tumbles and protests at Tesla showrooms, sales drops and car defacings, Musk left his work with the Trump administration's Department of Government Efficiency (DOGE).
Not everyone viewed the figures as negative.
Analysts at financial services firm Wedbush said: "Tesla's future is in many ways the brightest it's ever been in our view given autonomous, FSD [full self-driving], robotics, and many other technology innovations now on the horizon with 90% of the valuation being driven by autonomous and robotics over the coming years but Musk needs to focus on driving Tesla and not putting his political views first."
After a 5% share price fall earlier this week when Mr Musk strayed back into political matters, Tesla stock rose 4.5% on Wednesday.
The latest financial details for Tesla will be published later this month.
In the first three months of the year, Tesla's profits fell by 71% to $409m (£306.77m) from $1.39bn (£1.04bn). Revenues were also well below forecasts, dropping 9% to $19.3bn (£14.5bn).
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


The Independent
29 minutes ago
- The Independent
When does Amazon Prime Day end in the U.S.? Everything you need to know
Amazon Prime Day is underway. And, as a shopping editor who has covered the retailer's sales for more than five years, it's safe to say I know how to spot a good deal from a dud. I'd always recommend using price comparison tools to make sure you're getting the best possible price, but I can confidently say some of the best deals see big-ticket products plummet to their lowest-ever price. Apple's AirPods Pro 2, for example, have been reduced by $100 to just $149, making them cheaper than their Black Friday price. And both Dyson's top-rated air purifier and Yeti's tumbler are now cheaper than ever. There are also impressive savings on Ninja air fryers, robot vacuums, CeraVe beauty products, and gaming devices. For the first ever year, the summer sale is running for four full days, but when will it end? Keep scrolling for answers to all of your burning questions, as well as a handpicked selection of the best deals across tech, appliances, beauty, and more. When did Amazon Prime Day 2024 start in the US? Amazon kicked off its Prime Day sale on July 8 at midnight. For the first year, the Amazon Prime Day sale will run for four days. Amazon Prime Day ends on July 11. From experience, the deals tend to stay the same for the duration of the event. But big-ticket items such as AirPods or games consoles do have a tendency to sell out before the end of the sales event. Is Prime Day only for Prime members? Yes, Prime Day is a celebration of Amazon's Prime members, so you'll actually need to be a Prime member to secure all the deals. Amazon Prime costs $14.99 per month or $139 per year. But there is a way around paying for the subscription. If you're not already a Prime member, you might be eligible for a free 30-day trial of Prime. It's only available to Amazon customers who have never been a Prime member before or haven't been a Prime member in the last 12 months. If you're between the ages of 18 and 22, you can also get an even longer six-month free trial, as well as half-price memberships, meaning you'll pay just $7.49 instead of $14.99 per month. Sign up now before the deals end on Friday. Tech Home Beauty


Daily Mail
32 minutes ago
- Daily Mail
Why a top Cabinet secretary was glaringly missing during Trump's marathon meeting with his closest advisers
One of the most prominent and publicly-recognized members of President Donald Trump 's Cabinet was missing from Tuesday's meeting at the White House. Health and Human Service Secretary Robert F. Kennedy was glaring absent from the table at the president's marathon sit down in the Cabinet Room. Kennedy was on international travel, a spokesperson said. 'Due to long-planned international travel, the Secretary couldn't attend today's Cabinet meeting. However, he remains in constant contact with HHS leadership and today took decisive action by declaring a public health emergency for the State of Texas,' an HHS spokesperson told Daily Mail. No additional details were given. Trump held the sixth Cabinet meeting of his administration. Other prominent secretaries - including Secretary of State Marco Rubio, Attorney General Pam Bondi and Defense Secretary Pete Hegseth - were present to chat with the president about the work of his administration. Kennedy is one of the most notorious and controversial cabinet members. His controversial views on vaccines has led to some accusing him of spreading misinformation on the issue. In fact several leading medical groups are suing Kennedy over changes to federal COVID-19 vaccine recommendations. The suit - which includes the American Academy of Pediatrics, the American College of Physicians and the American Public Health Association - was filed in federal court and asks for a reversal of Kennedy's decision to remove pregnant women and healthy children from the COVID-19 vaccine schedule. Kennedy has pushed a Make America Healthy Again agenda - a play off Trump's campaign slogan of Make America Great Again. But even that plan came under fire when the news outlet NOTUS reported that seven of the more than 500 studies cited in the HHS report - which decried America's food supply, pesticides and prescription drugs - did not appear to have ever been published. The administration shrugged it off as 'formatting issues.' President Trump has been supportive of his health secretary. Kennedy is also moving to ban dyes in food and fluoride in water. The son of the late Attorney General Robert Kennedy made his own presidential bid as a Democrat before dropping out of the contest and endorsing Trump.


The Independent
44 minutes ago
- The Independent
Growing number of homeowners who bought in pandemic boomtowns owe more than homes are worth
A growing number of homeowners who bought in pandemic boomtowns owe more than their homes are worth, according to a new report. During the Covid-19 pandemic, people with substantial savings who wanted a larger living space were driven to buy homes while mortgage rates were low, the Wall Street Journal explained in a recent article. They moved to towns such as Austin, Texas and Cape Coral, Florida, but now they are underwater, the Journal reported. An underwater mortgage occurs when a home loan has a higher principal than the market value of the property. More than half a million homeowners were underwater in April, Andy Walden, head of mortgage and housing market research at Intercontinental Exchange, told the Journal. The Journal reported a quick rise in home prices in these boomtowns was followed by a nearly 20 percent price drop in some of them after mortgage rates began to spike in 2022. This, along with the construction of more houses to meet demand, means a more balanced market between buyers and sellers, according to the Journal. While this is good news for potential homebuyers, it's unfortunate for homeowners looking to sell their houses. Now that their homes are worth less than they owe on their mortgages, if they want to sell, they'd have to pay their mortgage company the remaining balance once they sell at a lower price, the Journal reported. There is a surplus of unsold houses sitting on the market for weeks in these boomtowns, Bloomberg reported last Tuesday. The initial increase in home prices caused by pandemic-era demand can be described as a housing bubble. When the demand decreases as home supply increases, prices will drop, and the bubble will burst.