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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.
