Tesla’s latest earnings report was very bad news for the company. In the second quarter, it made $1.1 billion in net profit, less than the $1.2 billion it reported a year earlier. Vehicle sales were up, but profits remain about a quarter billion short of expectations, and the automaker’s cash flow is negative for the first time in over two years.

But the real blow has been the slow rollout of its Robotaxi service. Elon Musk has staked his automaker’s future on fully autonomous vehicles, promising investors it would help push Tesla’s valuation to an eyebrow-raising $30 trillion — approximately the gross domestic product of the United States, for perspective.

And importantly, he promised to get this done quickly. Before launching Tesla’s first Robotaxi service in Austin last summer, Musk estimated that over 1,000 of the self-driving cabs would be roaming the streets “within a few months.”

Now, a year later, Tesla doesn’t even have a hundred Robotaxis in operation. And its efforts seem to actually be regressing. According to a new chart the company released Wednesday, the Robotaxi network racked up fewer miles from paying customers in the second quarter than it did in the first.

The chart, which may be the most dismal single aspect of the entire earnings cycle, misleadingly displays this data as cumulative miles to make it appear like the Robotaxi service is steadily growing. 

But TechCrunch broke it down, finding that in the first quarter, Tesla’s driverless cabs carrying paying passengers drove around 1.1 million miles, but fell to just 700,000 miles in the second — cratering by over a third.

The misleading chart isn’t the only way Tesla has tried to dress up its stalling efforts. A day before releasing the earnings report, it announced that it was expanding to two more cities in Florida, Tampa and Orlando — without sharing the size of those fleets, Electrek noted.

It should tell you something that Tesla has gone to great lengths to keep the size of its operation under wraps. In June, Bloomberg reported that its fleet size across all cities was just 59 robotaxis. Only third of those are fully unsupervised; the other vehicles have a human safety monitor sitting in the front seats.

It’s also tried to play up its seemingly spotless safety record. Before the report, the official Tesla account on X bragged that there were “0 notable incidents across over 380,000 miles traveled by Robotaxi.”

But Tesla doesn’t define what a “notable incident” is. Its vehicles have regularly been caught driving erratically and at times dangerously. Only a day after launching in Tampa, one of its Robotaxis was spotted blundering the wrong way down a one way street in the city.

Musk has frequently emphasized that he’s “paranoid about safety” to explain why progress has moved slowly, while at the same time promising to scale things up rapidly. In January he projected that the Robotaxis would cover half the US population by the end of the year.

But investors are running out of patience. Tesla shares plunged by 15 percent on Thursday after the earnings were released, in part due to frustration over the Robotaxis’ laggard progress, and another three percent on Friday.

“More ​is needed to show that Tesla’s capabilities are inflecting” on robotaxis, Barclays analysts said in a note per Reuters, noting that Tesla didn’t provide new expansion targets ​and “hasn’t met previously laid out targets.”

More on Tesla: It’s Looking Like the Cybertruck Is the Biggest Flop in Automotive History

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The Cybertruck is a flop. 

For all of Tesla CEO Elon Musk’s grandiose claims that the pickup would be an “apocalypse-proof” tank capable of winning its driver style points wherever they go, it’s instead earned a reputation for being incredibly unreliable and just about the opposite of “easy on the eyes” — probably because you can imagine the numerous sharp edges that define its low-poly design poking you in them as soon as you see it.

Most unforgivable in the capitalist society Musk champions, it hasn’t sold well. He once estimated that Tesla would sell up to 500,000 Cybertrucks annually, but it hasn’t even come close to that number in the nearly three years since it first started shipping, and at this point it probably won’t in its entire lifetime.

So, yes. It’s a flop. But could it also be the greatest flop in American automotive history?

A new piece from Bloomberg makes the case, comparing the Tesla vehicle to the misfortunes of Ford’s Edsel, which was first introduced in 1957 and discontinued just two years later. After spending years building up hype for the car, Ford predicted selling 200,000 units in its first year, but ended up selling less than a third of that. 

That’s comparable to expectations versus reality of the Cybertruck. In fact, the Cybertruck is actually doing worse in key ways. Tesla’s annual sales target was 250,000 units, but it didn’t even crack 40,000 sales in its first year. And like the Edsel, it’s sold less with each successive year, with barely 7,100 registered in the US in 2026 so far, according to S&P Global Mobility data — despite Musk juicing those figures by selling Cybertrucks to his own companies.

And like the Cybertruck, the Edsel’s unusual design was also widely mocked. The most notorious feature was its vertical grille, which many jokesters compared to a toilet seat. A review in Time magazine sealed its fate by observing that it looked like “an Oldsmobile sucking a lemon.”

“For most people it was just downright ugly,” Don Sherman, a journalist and auto historian, told Bloomberg.

The exterior wasn’t the only weird — and doomed — thing about the Edsel. In it, Ford debuted a new “Teletouch” push-button shift placed in the center of the steering wheel — yep, right where most cars have a horn button. It confused drivers and frequently malfunctioned. 

(And spiritually, it’s hard to ignore, the Teletouch evokes Tesla’s insistence on hiding features that traditionally have physical buttons in a central touch screen.)

The Edsel is generally cited as the American automotive industry’s biggest disaster. But the projected annual sales target compared to actual sales is actually worse for the Cybertruck. It may be time to put a new car on this ignominious throne.

But will Tesla discontinue the Cybertruck the same way Ford dropped the Edsel? Maybe not. The Cybertruck is a point of pride for Musk and has become synonymous with his vision. Garrett Nelson, an equity analyst at CFRA Research, thinks it’s more likely the truck will “fade away.”

“It’s possible that they try to do some sort of redesign, or come up with a different variant to try to boost sales,” Nelson told Bloomberg, “but we think that would really be a futile effort.”

More on Tesla: Tesla Stock in Freefall After Disastrous Earnings Report

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Shares of Elon Musk’s embattled carmaker Tesla slid over 13 percent Thursday morning after posting dismal second quarter results the night before.

The stock is hovering at around $324 at the time of writing, down over 15 percent over the last five days and about 28 percent year to date.

The company missed Wall Street expectations, despite its core automotive segment generating just over $20 billion in revenue, up 23 percent from a year ago. However, the company’s gross profits dropped as operating expenses climbed far quicker than revenue, in large part thanks to AI-related capital expenses and other research and development — an intimately familiar refrain for the tech world in 2026.

In other words, investors are growing increasingly wary of Musk’s reinvention of his car business. The almost-trillionaire is trying to shift the company’s focus from selling cars to robotaxis, a humanoid robot called Optimus, and AI — a series of major undertakings that’re clearly weighing it down financially after multiple quarters of major losses.

Worse yet, Tesla’s woes are clearly having knock-on effects on his rocket company as well. SpaceX’s stock has had a bruising month since hitting an all-time high after going public in mid-June. An aborted Starship test launch and Musk’s dubious plan for orbital data centers have investors betting against the company in incredible numbers.

During Wednesday’s earnings call, the company claimed that production of its Optimus humanoid robot remains on track, but didn’t elaborate beyond promising that production is starting “soon.”

“This is going to be the hardest product to scale manufacturing that we’ve ever made at Tesla, because everything on the robot is new,” Musk said.

Tesla’s robotaxi service is also being rolled out to six major metropolitan areas across the country, but continues to lag far behind its key competitor, Alphabet’s Waymo.

Despite slightly more optimistic vehicle sales numbers, the company continues to burn through billions of dollars to keep all of those new plates spinning.

The elephant in the room during this week’s call was the long-rumored possibility of Musk merging Tesla and SpaceX — a doubling down on his portfolio that could set up some of the most unbelievable financial drama in economic history.

The mercurial entrepreneur didn’t rule out the possibility, saying that “we can’t talk about combining companies on an earnings call.”

“It’s got to be done with the appropriate process,” he added.

More on Musk: Elon Musk Says His Goal Is for SpaceX to Be Worth More Than the Entire Earth

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Zoox, the Amazon-owned robotaxi company, issued a recall after one of its self-driving cars blundered into a cloud of heavy smoke near a fire scene that emergency workers were responding to, and became confused.

The recall, in the form of a software update, will affect its entire fleet of 105 autonomous robotaxis. 

The patch “enhances the existing capability of detecting active [emergency] scenes by adding the ability to detect and respond to heavy smoke in certain situations,” Zoox told TechCrunch in a statement.

While you wouldn’t be remiss for thinking this was related to the wildfire smoke covering much of the eastern US right now, the recall highlights how self-driving cars still struggle to respond to unpredictable conditions.

In a report filed with the National Highway Traffic Safety Administration, Zoox said that during the June 20 incident, one of its robotaxis “encountered heavy smoke that obscured an active emergency fire scene that was not cordoned off with cones.”

Though it should have avoided the smoke cloud, the vehicle, which wasn’t carrying any passengers, “braked hard while attempting to steer away before coming to a stop,” the company added. Eventually, a teleoperator intervened and helped reverse the robotaxi away from the scene, allowing first responders to place traffic cones to block off two of the three lanes. CNBC reported that the incident occurred in Las Vegas, where Zoox is currently offering free rides.

It’s not the first time robotaxi companies have landed in hot water for impeding emergency responders. 

San Francisco Police were forced to help move immobilized Waymo robotaxis that piled up in roadways in intersections during a city-wide power outage last year. Emergency responders complained they’d become glorified “roadside assistance” for the vehicles. In March, a Waymo robotaxi blocked an ambulance from responding to the scene of a deadly mass shooting in Austin, Texas.

These mounting incidents led NHTSA administrator Jonathan Morrison to send a strongly-worded letter to robotaxi companies, calling their cars’ interference with emergency responders “unacceptable.”

“Let me be clear: the inability to detect and appropriately respond to such situations represents a functional insufficiency,” he wrote. “Emergency scenes are not rare or extreme ‘edge cases.'”

“To state it bluntly: an AV that cannot safely interact with first responders is a danger to the general public,” he added.

More on robotaxis: Robotaxis Are Turning Passengers Into Horrible and Entitled Menaces to Society

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