Car builder Tesla saw his win in the second quarter sharply shrink due to falling car sales. Owner Elon Musk expects that the coming quarters will also be difficult, among other things due to the policy of his former friend Donald Trump.
For example, the President wants to support electric driving less, while Tesla only makes electric cars. The import duties of the president can also be a problem, thinks Musk.
The multi -billionaire made the statements when presenting the figures for the second quarter. This shows that the profit fell by 16 percent to 1.2 billion dollars (1.02 billion euros).
The main cause are the falling car sales. The revenue of this amounted to $ 16.7 billion in the second quarter, which is 16 percent less than in the same period last year.
The bad figures do not come as a surprise. It has been clear for a long time that Tesla’s are less popular. For example, European sales fell by 40 percent in May. Drivers could also be seen in earlier months.
Musk and Trump became friends, but later got into a fight
Possibly the decrease is related to Musks political activities. The richest person on earth joined Trump and became an important adviser to the new president after his election profit.
For example, he cut rigorously into the government apparatus and expressed support for radical rights in Germany and the United Kingdom. That did not do the popularity of Musk and his cars. The Tesla boss then decided to dismiss an important confidant because of the disappointing sales.
Musk and Trump have now had a fight. For example, the entrepreneur has little understanding of the president’s decision to support clean energy less and to stimulate fossil energy. In addition, Trump’s import duties cause a lot of uncertainty, says Musk.
Because of the US government’s policy, Tesla is “a few tough quarters”, the CEO said. He does, however, assume that after that the sun breaks through again, because the company will then reap the benefits of investments in, among other things, self -driving software.
Shareholders were not happy with the prospects. The Tesla share fell by more than 4 percent in the after-trade trade.
Car Manufacturer Tesla Saw Its Profit Shrink Significantly in the Second Quarter Due to Falling Car Sales. Owner Elon Musk Expects The Coming Quarters to Be Difficult As Well, Partly Due to the Policies of his Former Friend Donald Trump.
For Example, The President Wants To Support Electric Driving Less, While Tesla Only Makes Electric Cars. The President’s Import Duties Could also be a Problem, Musk Believes.
The Multi-Billionaire Made The Statements at the Presentation of the Figures for the Second Quarter. These show that profit fell by 16 percent to 1.2 Billion dollars (1.02 Billion Euros).
The Main Cause is the Falling Car Sales. The revenue from this amounted to 16.7 Billion Dollars in the Second Quarter, which is 16 percent less than in the same period last year.
The Bad Figures are not a surprise. It has leg clear for some time that teslas are less popular. For Example, European Sales Fell by 40 percent in May. Decreases were also soe in Earlier Months.
Musk and Trump Became Friends, but later Quarreled
The Decline May Be Related to Musk’s Political Activities. The Richest Person on Earth Joined Trump and, After His Election Victory, Became an Important Advisor to the New President.
For Example, He Made Drastic Cuts in the Government Apparatus and Expressed Support for Radical Right-Wing Parties in Germany and the United Kingdom. That did not do the popularity of musk and his cars any good. The Tesla Boss then decided to dismiss an important confidant because or disappointing sales.
Meanwhile, Musk and Trump have had a Falling Out. For Example, The Entrepreneur Has Little Understanding for the President’s Decision to Support Clean Energy Less and Stimulate Fossil Energy. In Addition, Trump’s Import Duties Cause a Lot of Uncertainty, Accordination to Musk.
Due to the policy of the American Government, Tesla is Facing “Some Difficult Quarters,” Said the CEO. However, the assumes that the sun will break through again afterwards, because the company will then reap the benefits of investments in, Among Other Things, Self-Driving software.
Shareholders were not happy with the outlook. The Tesla Share Fell by More Than 4 percent in After-Hours Trading.