Tesla shares fell more than 8% in pre-market trade in the U.S. after the electric carmaker reported second-quarter earnings that missed expectations, as its auto business continued to face pressure.
Bulls and bears have been in a grapple over the stock, with some believing the company's core car business is under pressure, while others held hope about a future Musk has promised around autonomous driving.shares fell more than 8% in premarket trading in the U.S. after the electric carmaker reported second-quarter earnings that missed expectations amid ongoing pressure in its auto business.
Tesla remains the top seller of electric vehicles in the U.S. by far, but is losing market share to a growing number of rivals due in part to its aging line-up of sedans and SUVs and the impact of The market has been focused on a number of other areas around the Tesla story, including when the company will introduce a new mass-market car to reinvigorate its line-up of vehicles. Musk said on the earnings call on Tuesday that Tesla is on track to deliver a new "affordable" car in the first half of next year.
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