Tesla Not In The Pink Of Financial Health

Tesla reported its worst revenue decline in more than a decade, as Elon Musk’s political activity continues to weigh on investor sentiment.

The company’s limited rollout of robotaxis in Austin, Texas, is a potential catalyst for future growth. (Photo: Tesla Asia X)

The company cited a 13% drop in vehicle deliveries in the second quarter, along with a decline in revenue from regulatory credits, as key factors in the downturn.

Despite the bleak numbers, some analysts remain optimistic, pointing to the company’s limited rollout of robotaxis in Austin, Texas, as a potential catalyst for future growth.

In related economic data, small business sales have become more difficult.

According to BizBuySell, a leading online marketplace, cautious buyers are pulling back due to high interest rates, stricter lending conditions, and macroeconomic uncertainty.

The median sale price of small businesses fell 6% year-over-year, with manufacturing hit hardest. However, service sectors such as healthcare and construction remained attractive to buyers.

Meanwhile, the housing market continues to cool under the weight of record home prices and elevated mortgage rates.

Sales of existing homes fell 2.7% in June, according to the National Association of Realtors. The median home price reached an all-time high of $435,000. NAR Chief Economist Lawrence Yun cited years of chronic undersupply as the main driver of high prices.