A Tesla vehicle is parked outside of a dealership on July 24, 2025 in Austin, Texas.
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Tesla’s going through a bumpy ride.
The electric vehicle company on Wednesday reported a second consecutive quarter of declining auto sales. In Europe, Tesla’s market share fell for the sixth straight month to 2.8% in June from 3.4% a year ago.
The Trump administration’s plans to reportedly roll back the U.S.’ push for cleaner vehicles will probably hit Tesla further. A $7,500 EV tax credit in the U.S. will expire at the end of September, indirectly raising the cost of Tesla vehicles. Meanwhile, traditional carmakers will no longer need to purchase EV regulatory credits from Tesla — which receives them for free because its vehicles are completely electric — as the Trump administration intends to stop fining traditional carmakers for missing emission standards. That means Tesla will soon lose a source of revenue.
They say bad things come in threes. Here’s the last.
While Tesla’s bitcoin holding is currently worth $1.24 billion, according to its investor deck, it could have been worth billions more. In 2022, the company dumped 75% of its bitcoin. The cryptocurrency is trading at roughly $118,000 now. When Tesla sold its holdings, it was trading at around $19,000.
If there’s any consolation, even though U.S. President Donald Trump’s “big beautiful bill” will affect Tesla, Trump said on Thursday it wasn’t a targeted measure. “I want Elon, and all businesses within our Country, to THRIVE, in fact, THRIVE like never before!”
Whether Trump’s sentiments can help pave a smoother road for Tesla, though, is another matter.
— CNBC’s Arjun Kharpal and Lora Kolodny contributed to this report
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