The post Tesla stock drops as Musk focuses on robots instead of current sales appeared on BitcoinEthereumNews.com. Tesla’s stock price fell nearly 4% after trading hours following a third-quarter earnings call where CEO Elon Musk avoided discussing the company’s immediate challenges and instead talked about future robot projects. Musk stayed silent on several pressing issues during the call. He did not address vehicle demand after an important federal tax credit ended last month. The Cybertruck went unmentioned. He said nothing about how tariffs on auto parts affect the business. Investors received no guidance on what to expect in the fourth quarter. The earnings themselves disappointed Wall Street, missing analyst predictions. But Musk chose to discuss his long-term plans rather than current sales figures and profit margins. “People just don’t don’t quite appreciate the degree to which this will take off, where it’s honestly, it’s going to be like a shock wave,” Musk said at the start of the call as mentioned in CNBC report. “We have millions of cars out there that, with a software update, become full self-driving cars and, you know, we’re making a couple million a year.” For many years, Elon Musk has pledged that Tesla car owners would be able to generate income by allowing their vehicles to operate as driverless taxis. Yet rival companies are making faster progress in this space. Waymo, owned by Alphabet, is broadening its paying robotaxi operations to additional cities, while Baidu’s Apollo Go service is expanding across China and beyond. Meanwhile, Tesla continues to be limited to limited-scale pilot initiatives. Robotaxi plans lag behind promises Back in July, Musk predicted Tesla would offer autonomous rides to “probably half the population of The U.S. by the end of the year.” The company still does not make or sell cars safe enough to operate without someone ready to take control. On Wednesday, Musk said Tesla plans to launch its… The post Tesla stock drops as Musk focuses on robots instead of current sales appeared on BitcoinEthereumNews.com. Tesla’s stock price fell nearly 4% after trading hours following a third-quarter earnings call where CEO Elon Musk avoided discussing the company’s immediate challenges and instead talked about future robot projects. Musk stayed silent on several pressing issues during the call. He did not address vehicle demand after an important federal tax credit ended last month. The Cybertruck went unmentioned. He said nothing about how tariffs on auto parts affect the business. Investors received no guidance on what to expect in the fourth quarter. The earnings themselves disappointed Wall Street, missing analyst predictions. But Musk chose to discuss his long-term plans rather than current sales figures and profit margins. “People just don’t don’t quite appreciate the degree to which this will take off, where it’s honestly, it’s going to be like a shock wave,” Musk said at the start of the call as mentioned in CNBC report. “We have millions of cars out there that, with a software update, become full self-driving cars and, you know, we’re making a couple million a year.” For many years, Elon Musk has pledged that Tesla car owners would be able to generate income by allowing their vehicles to operate as driverless taxis. Yet rival companies are making faster progress in this space. Waymo, owned by Alphabet, is broadening its paying robotaxi operations to additional cities, while Baidu’s Apollo Go service is expanding across China and beyond. Meanwhile, Tesla continues to be limited to limited-scale pilot initiatives. Robotaxi plans lag behind promises Back in July, Musk predicted Tesla would offer autonomous rides to “probably half the population of The U.S. by the end of the year.” The company still does not make or sell cars safe enough to operate without someone ready to take control. On Wednesday, Musk said Tesla plans to launch its…