Trump Marks 100 Days of Second Term with Low Approval Ratings
April 29, 2025: Donald Trump’s second term has reached the 100-day mark under sustained public skepticism, with national approval ratings
- May 9, 2025 4:20 am
- California
July 22, 2022: -Automotive gross margin came in at 27.9%, down from 32.9% last quarter and 28.4% a year ago, influenced by inflation and more competition for battery cells and other components that go into electric vehicles. Automotive revenues pushed up $14.6 billion of the company’s total, with $1.47 billion from services and additional income and $866 million from the company’s energy segment.
The company generated $344 million in automotive regulatory credits revenue in the second quarter, the company said in its shareholder deck. That’s a $10 million or nearly a 3% decline from the same period in 2021.
On Wednesday, CEO Elon Musk said Tesla’s current factory outside of Berlin got 1,000 cars each week in June in an earnings call. He expects the company’s latest factory in Austin, Texas, to surpass the 1,000 per week production landmark in the following months.
Tesla has expanded its charging infrastructure over its store and service centers, reporting 709 store and service locations for the quarter and 3,971 Supercharger locations in the second quarter. Those numbers represented 19% growth in store and service center locations year after year and a 34% growth in the number of charging locations.
The company offered little piece regarding its investments in and sales of cryptocurrency, writing, “As of the end of Q2, we have converted approximately 75% of our Bitcoin investments into ruling currency. Conversions in Q2 added $936M of cash to our balance sheet.” Overall, the company’s cash and equivalents increased by $847 million during the quarter. Tesla was waving among crypto fanatics when it announced in early 2021 that it had purchased $1.5 billion worth of bitcoin.
Musk explained on Wednesday’s call, “The reason we sold a bunch of our bitcoin holdings was that we were uncertain when the covid lockdowns in China would alleviate, so it was important for us to maximize our cash situation.” He said, “This should not be taken as some verdict on Bitcoin.” CFO Zachary Kirkhorn and Musk confirmed that Tesla had not sold any of its dogecoins.
With two new factories now standing in Texas and outside of Berlin in Germany, Tesla has kept its soft guidance for “50% average annual growth in vehicle deliveries” over a “multi-year horizon.”
Tesla still counts its hotly anticipated Cybertruck, updated Roadster concept, and other speculative projects such as the humanoid robot as “in development.” On Wednesday, in answer to an investor’s question, Elon Musk stated that Tesla hopes to begin delivering the Cybertruck, an experimental-looking pickup, in the coming year.
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