The fallout from Elon Musk’s plunge into politics a year ago is still hammering his Tesla business as both sales and profits fell sharply again in the latest quarter.

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.

Volkswagen said Friday year-over-year operating profit fell by $1.84 billion in the second quarter as the German automaker navigates the effects of U.S. tariffs

Volkswagen reported a 1.3-billion-euro ($1.5-billion) first-half hit from tariffs and cut its full-year sales and profit margin forecasts in the German carmaker's first assessment of the damage from U.

Europe's biggest carmaker posted a sharp drop in second-quarter profit, primarily due to high costs from increased U.S. import tariffs.