Tesla deliveries plummet 14% in second quarter
In response, Trump floated cutting the subsidies received by Musk's firms or even deporting him.Trump suggested that the ad-hoc Department of Government Efficiency - known as Doge - could be used to harm the billionaire's companies."Elon may get more subsidy than any human being in history, by far," Trump wrote on social media Tuesday. "Perhaps we should have DOGE take a good, hard, look at this? BIG MONEY TO BE SAVED!!!""I am literally saying CUT IT ALL. Now," Musk replied.Trump has suggested that Musk's opposition to the spending bill stems from a provision that removes incentives to buy electric vehicles."He's upset that he's losing his EV mandate, he's very upset, he could lose a lot more than that, I can tell you that," Trump told reporters on Tuesday.Though the quarterly deliveries metric is tracked closely investors, some analysts have shrugged off the figures."The good news: that ~14% should mark the bottom," wrote Deepwater Asset Management's Gene Munster on Musk's social media site X. "I have September down 10% and December flat."Munster said he expected uncertainty about the US EV tax credit to boost near-term sales as buyers scramble to purchase before it expires. Tesla's push into robotaxis which kicked off in Austin, Texas last month in uncertain fashion could prove critical, he said."Over the next two years, I think investors will be fine with flat deliveries as long as autonomy shows measurable progress," Munster added.
Sign up for our Tech Decoded newsletter to follow the world's top tech stories and trends. Outside the UK? Sign up here.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Independent
39 minutes ago
- The Independent
Which stores will be open on July 4th?
The Fourth of July will see banks, the stock market, and the United States Postal Service closed, though online banking and ATMs will remain accessible. Costco stores will be closed for the entire day on July 4th, resuming normal business hours the following day. Many major retailers, including Target, Walmart, Kroger, Starbucks, Dunkin' Donuts, and Walgreens, are expected to be open, with some operating on reduced hours. Aldi and Trader Joe's will also be open but with limited hours, typically closing earlier in the afternoon. Most fast-food restaurants, such as McDonald's, Wendy's, Burger King, and Chipotle will be open, though specific opening times may vary by location.
Metro
39 minutes ago
- Metro
What is Trump's 'Big, Beautiful Bill' and what does it mean for Americans?
President Donald Trump's 'Big, Beautiful Bill' has cleared multiple hurdles and passed in Congress and is on its way to his desk to be signed into law. The House passed Trump's signature domestic policy bill 218-214 on Thursday, with Representatives Brian Fitzpatrick and Thomas Massie being the only Republicans who joined Democrats in opposing it. Trump set a July 4 deadline for the bill to reach his desk and his Republican allies delivered, with House Speaker Mike Johnson in particular succeeding in flipping dozens of members who hand planned to vote against it. The president is set to sign his bill at 5pm on Friday while celebrating the Fourth of July at the White House. Trump's 'One Big Beautiful Bill Act' is a massive spending and tax bill with his signature policies. It will extend his 2017 Tax Cuts and Jobs Act, which was set to expire at the end of 2025. It will make many tax cuts permanent and boost funding for defense, border security and producing energy. To offset those costs the bill makes cuts to programs like Medicaid health insurance for low-income and disabled Americans, and Supplemental Nutrition Assistance Program (SNAP) food aid. The nonpartisan Congressional Budget Office has estimated that the bill would add $3.4trillion to the federal deficit and leave nearly 12million Americans without health coverage over the next decade. But the Trump administration has contested that and claim that it would decrease the deficit by more than $5trillion. Immigrants including refugees, asylees and victims of sex trafficking and domestic violence may no longer qualify for federal benefits like Medicaid and food stamps. Additionally, immigrants would have to pay more for programs like work authorization and Temporary Protected Status. The bill puts aside $45billion to detain undocumented people taken into custody by Immigration and Customs Enforcement (ICE). It provides $46.5billion for border wall construction, making up the amount that Trump was not able to secure for the project during his first term. The passage of the 'Big, Beautiful Bill' represents Trump's first major legislative win in his second term, and he touted it as 'the biggest bill of its kind ever signed' in the US. Speaking to reporters at Joint Base Andrews late afternoon Thursday, Trump confirmed that he will be signing the bill surrounded by lawmakers including Johnson and that military aircraft will be flying over the White House as part of a July 4 celebration. 'It's going to be a great day,' he said. 'So we'll be signing with those beautiful planes flying right over our heads.' Elon Musk, who served as Trump's Department of Government Efficiency (DOGE) chief, has been criticising the bill ever since his departure from the White House, and that caused a big feud to happen between the two billionaires. More Trending The Tesla CEO has denied Trump's claim that he is upset because the bill eliminates federal tax credits for purchasing electric vehicles, and said he is against it because it 'pork-filled' and will drive up the deficit. On Wednesday, Musk appeared to take a break from firing shots at Trump and gave him 'credit where credit is due' on his work to try to resolve conflicts and wars around the world. Hours after the bill cleared Congress, Musk remained silent on the bill on his X platform. Get in touch with our news team by emailing us at webnews@ For more stories like this, check our news page. MORE: Convenience store worker dies after 'manager sat on and suffocated her' MORE: Hundreds of blueberry boxes recalled over 'severe' listeria warning in the US MORE: Fact check: Is the US using planes for deportations to throw people into the ocean?
The Guardian
an hour ago
- The Guardian
Elon Musk's xAI gets permit for methane gas generators
Elon Musk's artificial intelligence company xAI has been granted a permit to run methane gas generators at its massive data center in Memphis, Tennessee. The county health department approved the permit for the 15 machines late Wednesday, a move that has sparked outcry from the local community and environmental leaders, who say the generators pollute their neighborhoods. 'Our local leaders are entrusted with protecting us from corporations violating on our right to clean air, but we are witnessing their failure to do so,' said KeShaun Pearson, the director of the local environmental non-profit Memphis Community Against Pollution. xAI set up its massive data center in Memphis roughly a year ago. To supplement the facility's heavy power usage, the company brought in dozens of portable methane gas generators. xAI did not have a permit for the generators, which require municipal approval to deploy, but seemed to have found a loophole in the system that allowed it to use the turbines as long as they were not in the same location for more than 364 days. In January, xAI did apply for a permit for 15 generators – even though it had been running up to 35 generators on-site, according to photographs. After months of public forums and community protests, the Shelby county health department issued the permit. A satellite image that Memphis Community Against Pollution took on Tuesday and shared with the Guardian shows at least 24 turbines still set up at xAI's facility. 'xAI welcomes today's decision,' a company spokesperson said in a statement. 'Our onsite power generation will be equipped with state-of-the-art emissions control technology, making this facility the lowest emitting of its kind in the country.' Sign up to TechScape A weekly dive in to how technology is shaping our lives after newsletter promotion Environmental groups dispute whether xAI's power usage will actually be low emitting. The Southern Environmental Law Center has conducted studies on the pollution that the turbines emit and says they have the capacity to emit thousands of tons of harmful nitrogen oxides, along with toxic chemicals like formaldehyde. 'The decision to give xAI an air permit for its polluting gas turbines flies in the face of the hundreds of Memphians who spoke out against the company's permit request,' said Amanda Garcia, a senior attorney for the Southern Environmental Law Center. She added that the health department is allowing 'another polluter to set up shop in this already overburdened community without appropriate protections'. xAI is in the industrial zone in Memphis, which is surrounded by several neighborhoods where residents have long dealt with pollution. This area is historically Black and has higher rates of respiratory diseases and asthma and a lower life expectancy than other parts of the city. Studies have shown these neighborhoods also have a cancer risk four times higher than the national average. The pollution coming out of xAI, along with its proximity to Black neighborhoods, has caught the attention of the NAACP civil rights group. It has initiated a lawsuit against xAI alleging the company is violating the Clean Air Act by illegally installing and operating the methane gas generators. 'While the NAACP is glad that 15 of xAI's turbines are now subject to greater transparency and accountability around their methane gas emissions … this decision ignores the community pushback,' Abre' Conner, the NAACP's director of environmental and climate justice, said in statement on Thursday. 'We are still committed to holding xAI and the Health Department accountable.'
