Analysts estimate that the company earned $1.2 billion from April to June, according to Bloomberg, down from $1.4 billion a year ago. Sales are expected to have fallen to $22.6 billion from $25.5 billion in the second quarter of 2024. Tesla has not reported an increase in quarterly profit since the third quarter of 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.

Tesla started making the "first builds" of its affordable model in June, the electric vehicle maker said on Wednesday, adding that it expects volume production in the second half of this year.