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00:03Tesla shares dropped 6% in pre-market trading Thursday, according to CNBC.
00:07Coming to record its second consecutive quarter of falling automotive sales
00:10and missed both revenue and earnings expectations.
00:13Tesla missed both revenue and earnings estimates in the second quarter,
00:15with automotive revenue falling 16% year-over-year to $16.7 billion.
00:20Elon Musk said Tesla could face a few rough quarters due to the expiration of federal electric vehicle tax credits,
00:26though he emphasized it was not a certainty.
00:27Tesla faces increased pressure from lower-cost EV rivals in China and Europe,
00:32with June registrations in Europe also declining.
00:35Teslers are also concerned about Musk's political activity,
00:37including his role under Trump and his support for Germany's AFD party.
00:41The company has started limiting production of a more affordable model,
00:44but declined to offer guidance, raising questions about Tesla's growth outlook for 2025.
00:49For all things money, visit Benzinga.com.
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