Tesla reports sharp decline in Q2 earnings: Revenue drops 12% as Elon Musk-led EV giant faces ‘rough quarters’; Here’s all you need to know

Tesla reported disappointing Q2 results, with revenue and profits declining due to reduced government support and softening demand. Despite launching a refreshed Model Y, deliveries dropped, and regulatory credit revenue plummeted. CEO Elon Musk anticipates a few challenging quarters ahead, attributing it to reduced EV tax credits.