The company faces competitive pressure as BYD becomes the world's leading EV maker and considers entering the U.S. market. Major investor Cathie Wood's ARK Invest significantly reduced its stake, selling nearly $38 million worth of stock. In India, Model Y demand is slow, prompting selective discounts. The CEO announced a strategic shift for its Full Self-Driving software, ending one-time purchases in favor of a subscription-only model to create steadier revenue and manage legal risk. The stock price edged higher amid speculation about a potential SpaceX IPO.