Electric car forwarding: Tesla with the next profit decline

Tesla experienced the second drop in profits in a row after sunken deliveries. The electric car manufacturer led by Elon Musk earned $ 1.17 billion in the past quarter, 16 percent less than a year earlier. Sales fell by twelve percent to around $ 22.5 billion. Analysts had expected a good $ 22.7 billion.

A central trigger for the development was the decline in deliveries by 13.5 percent to 384,122 vehicles. So far, the new variant of the previous bestseller Model Y has not been able to boost sales. It has been delivered to customers since March.

In addition to the controversy around Tesla boss Musk, the transition phase in the Model Y was considered a reason for the drop in sales of 13 percent in the first quarter.

But Tesla also troubles increased competition from other manufacturers – Chinese brands are particularly strong outside the US home market. In Europe, where Tesla has a factory in Grünheide near Berlin, sales declines have been around for months. Meanwhile, Musk claims that the future of Tesla is already in autonomous driving and humanoid robots.

In June he started a first robotaxi service in the city center of the US city of Austin. So far, however, only a few Model Y vehicles have been on the road and only users selected by Tesla can book the trips. The driver’s court remains empty – but a Tesla employee drives in the passenger seat for safety.

E-car subsidies run out

Teslas revenues from the car business fell by 16 percent to $ 16.66 billion in the past quarter. At the same time, there could be short-term tailwind through the policy of US President Donald Trump in the coming months: Elegor Auto-Subventions will expire in the United States at the end of September. This could cause some interested parties to strike quickly.

The share in a first-time US trade in a first reaction to the figures increased by around 0.5 percent.