Tesla reported a slight earnings and revenue miss in the second quarter, but said its 'more affordable' model was still slated for production in the second half of 2025.

On the earnings call, Musk warned Tesla "could have a few rough quarters" ahead as green energy tax credits disappear.

The fallout from Elon Musk’s plunge into politics a year ago is still hammering his Tesla business as both sales and profits fell sharply again in the latest quarter.

Tesla has offered low-interest loans and other incentives to try to revive sales, but these efforts have depressed the company’s profits. Tesla’s newest model, the Cybertruck pickup, has been a flop. The company sold 4,300 Cybertrucks in the second quarter, according to Cox Automotive, a 50 percent decline from a year earlier.

Not a very good showing for Tesla despite largely in-line second-quarter earnings. The stock is losing more than 4% in the extended session, and investors got spooked by Elon Musk's final words about potential "rough quarters" ahead for Tesla.

Politics. Elon Musk and other Tesla executives talked about the negative impact of President Donald Trump’s tariff policy and tax bill, but Musk didn’t grab the chance to tout the “America Party” he said he was starting earlier this month.

Tesla TSLA after the stock market closed reported second-quarter earnings falling 23% with sales also dropping. The conference call is due at 5:30 p.m. ET where all the focus will be on CEO Elon Musk's comments, especially regarding the robotaxis. TSLA shares angled lower after the earnings report.

For a few years now, Tesla and its CEO, Elon Musk, have promised a low-cost model was in the works, but wouldn’t detail how it would look and just how inexpensive it might be. On Tesla's second-quarter 2025 earnings call, Musk let the cat out of the bag and finally confirmed the cheap Tesla is finally coming—and exactly what it will look like.