Tesla’s (TSLA) stock is sliding in premarket trade as investors brace for what’s expected to be another tough quarter for deliveries.
The EV maker’s sales in Sweden and Denmark dropped over 60% year on year in June, underlining the challenges facing the company as rivals from China and elsewhere make headway. A 31% fall for deliveries of the Model Y in those countries signaled the revamp may be falling short of reviving Tesla’s fortunes, despite gains in Norway.
Tesla shares fell almost 6% early on Tuesday morning, also under pressure after President Trump again threatened to withdraw government subsidies from Elon Musk’s companies. The Tesla CEO recently ramped up his officer ratcheted up his criticism of Trump’s flagship tax megabill.
Yahoo Finance’s Pras Subramanian reports on what Wall Street is watching from Tesla:
