One of the more glaring omissions from Tesla’s late Wednesday earnings was that the EV maker Tesla did not update its 2025 outlook as promised.

Elon Musk's electric-vehicle maker reported a 12% drop in quarterly revenue, and a steeper decline in net income. + Musk highlighted plans to release a lower-priced Model Y electric vehicle, spoke about his hopes for a new pay package and talked up plans to roll out Tesla robotaxis more widely.

The fallout from Elon Musk’s plunge into politics a year ago is still hammering his Tesla business as both sales and profits dropped sharply again in the latest quarter. The car company that has faced boycotts for months said Wednesday that revenue dropped 12% and profits slumped 16% in the three months through June as buyers

Elon Musk warned of difficult times ahead for Tesla Inc. after one of the automaker’s worst quarters in over a decade.