Tesla CEO Elon Musk said the electric car brand would face "a few rough quarters", as the company posted its worst quarterly sales decline in over a decade. In the latest financial outlook, Tesla reported a 12 per cent drop in revenue compared to the same time last year,

CFO Vaibhav Taneja highlighted “near-term challenges” due to regulatory and tariff impacts, as the EV maker reported a 12% slide in revenue for its second quarter.

Tesla reported disappointing Q2 results, with revenue and profits declining due to reduced government support and softening demand. Despite launching a refreshed Model Y, deliveries dropped, and regulatory credit revenue plummeted.