Tesla profit slumped in second quarter, a sign Musk is hurting the brand

Tesla’s sales and profits continued to decline, with revenue dropping 12% and profits falling 16% in the latest quarter, as buyers increasingly turn to more affordable competitors amid concerns over CEO Elon Musk’s political activities. Additionally, Tesla faces challenges from reduced EV tax credits and competition from brands like BYD and Volkswagen, impacting its market share and revenue from carbon credit sales.

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