Tesla’s financial position is getting worse, as the fallout continues from CEO Elon Musk’s politics. The electric automaker reported Wednesday that both revenue and profits fell in the second quarter of the year compared to a year earlier.

Musk said that half the US population could have access to a Tesla robotaxi by the end of 2025. That’s a huge leap from the company’s current limited rollout.

Tesla Inc. warned that provisions in President Donald Trump’s $3.4 trillion fiscal package will pose meaningful challenges for the EV maker in the next several months.

Politics. Elon Musk and other Tesla executives talked about the negative impact of President Donald Trump’s tariff policy and tax bill, but Musk didn’t grab the chance to tout the “America Party” he said he was starting earlier this month.

Tesla Inc.’s core car-making business is facing a deteriorating outlook, providing a major test of Chief Executive Officer Elon Musk’s ability to lift the stock price with his vision

Tesla said Wednesday that it has begun production of "a more affordable model." Why it matters: The automaker has long promised a cheaper EV, but has said little about it recently, fueling speculation that CEO Elon Musk had lost interest. Catch up after the closing bell on the day's biggest business stories. With Hope King and Nathan Bomey.

A dynamic is emerging among Elon Musk’s Tesla, SpaceX, and xAI, fueling talk of consolidation. That isn’t necessarily a problem for Tesla shareholders.

Tesla's earnings are due today with an investor call at 5:30 p.m. ET. Elon Musk's politics have rocked TSLA stock, with shares down 18% YTD.