In the second quarter, Tesla incurred a $300 million expense due to Trump tariffs

During the call, Tesla CEO Elon Musk remarked that the company’s energy division is encountering “headwinds” due to the president’s tariff policy.

However, he pointed out that this sector is developing “very well despite the hurdles posed by tariffs.” Taneja emphasized the “unpredictable environment” concerning tariffs but stated that customers “are willing to accept” some of the consequences of these levies. Following the close of trading, the company’s shares on Wall Street fell 3.8% in electronic trading.

The automaker announced on Tuesday that its net profit decreased by 16% in the second quarter of the year, reaching $1.172 billion. This followed a 16% decline in its automotive revenue.

In a statement, Tesla noted that its auto sales revenue dropped to $16.661 billion from April to June. The total revenue, which encompasses the sale of energy storage units and other services, amounted to 22,496 million, reflecting a 12% decline.

Also read: Under the guidance of Carlos Hank González, Banorte secures the second position in Mexico