Tesla shares closed 8.2% lower on Thursday, amid a 22% year-on-year decline in net profit for the second quarter and a 16% drop in automotive revenue. The federal electric vehicle tax credit of $7,500 for Tesla is set to expire on September 30, and the new tax bill introduces uncertainty regarding regulatory credit points. Despite these setbacks and funding reductions, President Trump of the United States has publicly expressed his support for Tesla. He has dismissed criticisms of legislation that withholds subsidies from the company and voiced his hope for Tesla, and all enterprises, to achieve even greater success.