Tesla reported a slight earnings and revenue miss in the second quarter, but said its 'more affordable' model was still slated for production in the second half of 2025.

On the earnings call, Musk warned Tesla "could have a few rough quarters" ahead as green energy tax credits disappear.

Not a very good showing for Tesla despite largely in-line second-quarter earnings. The stock is losing more than 4% in the extended session, and investors got spooked by Elon Musk's final words about potential "rough quarters" ahead for Tesla.

The Austin-based EV company is still working on taking safety drivers out of the passenger seats and expanding into new cities.

Tesla TSLA after the stock market closed reported second-quarter earnings falling 23% with sales also dropping. The conference call is due at 5:30 p.m. ET where all the focus will be on CEO Elon Musk's comments, especially regarding the robotaxis. TSLA shares angled lower after the earnings report.

For a few years now, Tesla and its CEO, Elon Musk, have promised a low-cost model was in the works, but wouldn’t detail how it would look and just how inexpensive it might be. On Tesla's second-quarter 2025 earnings call, Musk let the cat out of the bag and finally confirmed the cheap Tesla is finally coming—and exactly what it will look like.

Questions from investors and analysts during Tesla’s conference call for its second-quarter earnings covered a number of topics, ranging from self-driving cars to robots to new vehicle models. Nothing shocking came out of the call’s Q&A portion.

Dow Jones futures fell slightly after hours, while S&P 500 futures and Nasdaq futures rose slightly. TeslaTSLA and Google-parent AlphabetGOOGL beat views. Google stock rose overnight while Tesla stock tumbled on the conference call,