Tesla reported a staggering 71% drop in net income to $409 million on $19.3 billion in revenue, marking its worst delivery quarter in over two years. The electric vehicle manufacturer attributed its struggles to declining sales and the impact of a trade war, warning of a potential meaningful effect on product demand. Despite setbacks, Tesla remains committed to launching more affordable models in 2025. However, its aging EV lineup and the delayed Cybertruck hinder growth. CEO Elon Musk also faces backlash due to his political affiliations, further complicating the company's market position.