Tesla Shares Fall More Than 8% After Elon Musk Warns Of "Rough Quarters" Ahead

Tesla's Q2 earnings revealed missed revenue and EPS estimates, despite exceeding gross margin expectations. CEO Elon Musk acknowledged "rough quarters" ahead due to lost tax credits and autonomous technology rollout. The stock price significantly dropped following the earnings call, reflecting investor concern. Musk highlighted a transition period impacting Tesla's near-term performance. Analysts criticized the lack of detail on key developments and future product plans. European sales significantly declined, further impacting Tesla's overall performance. Musk's political stances negatively affected the brand image in Europe. Despite production of a cheaper Model Y, its release is delayed. Concerns about Musk's focus and Tesla's future direction persist among investors.