Tesla’s second-quarter profits fell 23 per cent as sales of its electric vehicles continued to slide, with investors bracing for more fallout from chief executive Elon Musk’s fracture with Donald Trump.
Adjusted net income for the three months to the end of June came in close to analysts’ expectations at $1.4bn, down more than a fifth from $1.8bn a year earlier, the Austin, Texas-based company said on Wednesday.
Tesla is suffering from falling sales due to an ageing model line-up, greater competition from China and a backlash against Musk’s political activities.
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