Tesla’s profits and sales have dropped again, marking the third straight quarter of decline.
From April to June, the electric car company reported a 16% fall in profit and a 12% drop in revenue. This comes as more customers continue to avoid Tesla, partly due to CEO Elon Musk’s growing involvement in politics.
The company earned about NZ$1.93 billion in profit this quarter, down from NZ$2.31 billion last year. Revenue also shrank to NZ$37.13 billion, although this was still slightly better than what experts had predicted.
For over a year, Tesla has faced boycotts from some buyers who disagree with Musk’s political views and actions. Musk has talked about starting his own political party, though it’s unclear how far that plan has gone.
There’s also been tension between Musk and President Donald Trump. Musk publicly criticised Trump’s tax plan, calling it “insane,” which has caused a rift between the two once-allied figures.
