Tesla shares fall 8% in premarket trading after earnings miss

Category: Business

Tesla has reduced prices globally and offered discounts due to declining sales and increased competition, particularly in China. The company's shares fell over 8% after reporting second-quarter earnings that did not meet expectations. Despite being the leading electric vehicle seller in the U.S., Tesla is losing market share to competitors. The focus is on the introduction of a new affordable car and the potential for robotaxis, which Musk discussed during the earnings call.

Keywords: Tesla, electric vehicles, market competition

Source: CNBC

Update At: 7/24/2024

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