AssetID: 54937591
Headline: UNCAPTIONED: Tesla Promises Cheaper Cars, EU Self-Driving Approval Amid Profit Slump
Caption: Tesla Promises Cheaper Cars, EU Self-Driving Approval Amid Profit Slump. Tesla says it's building a more affordable model and expects to launch its self-driving software in Europe this year, moves aimed at reviving a business hit by falling sales, tighter U.S. tax rules, and rising competition from China. The company's Q2 results showed a 12% revenue drop and 16% dip in profits—the sharpest decline in over a decade. U.S. tariffs cost Tesla $300 million last quarter alone, and CFO Vaibhav Taneja warned that the loss of EV tax credits will sting. CEO Elon Musk claims European sales will rise with self-driving approvals, starting in the Netherlands. But critics say Musk's political antics are damaging the brand, with shareholders urging him to stay focused or step aside. Tesla's margins have shrunk, and confidence has wavered as rivals catch up. Analysts say a cheaper car may help—but it won't solve Tesla's deeper problems alone. Instructions: THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Motoring,Tesla,affordable model,self-driving software,Europe,Elon Musk,Q2 results,revenue drop,profit slump,EV tax credits,U.S. tariffs,\$300 million loss,Vaibhav Taneja,Netherlands,European sales,shareholder pressure,brand image,rising competition,China EV market,Tesla margins,cheaper car,autonomous driving approval,Tesla strategy,2025 auto industry
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