Wedbush’s Dan Ives and Odyssey Capital’s Jason Snipe join 'Closing Bell' to discuss the latest news affecting markets.

Tesla has offered low-interest loans and other incentives to try to revive sales, but these efforts have depressed the company’s profits. Tesla’s newest model, the Cybertruck pickup, has been a flop. The company sold 4,300 Cybertrucks in the second quarter, according to Cox Automotive, a 50 percent decline from a year earlier.

Tesla revenue slipped 12% year over year in the second quarter of 2025 the company's July 23 earnings release showed. The company took in $22.5 billion in revenue, down from $25.50 billion in the second quarter of 2024. It is the company's largest revenue drop in over a decade, according to Reuters.

Tesla said on Wednesday it has built initial versions of an affordable car, a move likely meant to stem the steep decline in sales the company has experienced in markets across the world.

Reporting a 12% drop, Tesla is battling strong competition from cheaper EVs and a backlash against CEO Elon Musk's political views.

Tesla missed revenue and earnings expectations in Q2 2025 and reported another drop in vehicle deliveries — but one key area of its balance sheet remains rock solid, offering a quiet win amid the turbulence.

Tesla’s battery business has been feeling the pain, too. For a while, this was a growth area for the company, albeit one with a relatively minor contribution to the bottom line. During Q2 2025, Tesla’s energy generation and storage division brought in $2.8 billion in revenue, a 7 percent decline from the same period in 2024.

Tesla's profit slid 16% in the second quarter, it said Wednesday. CEO Elon Musk will face investors in the company's earnings call at 4:30 p.m. CT.

Two Business Insider reporters visited Hollywood's new Tesla Diner within 24 hours of its grand opening. It was unusual, but exceeded expectations.