Tesla’s Delivery Report Offers Some Optimism For Investors Ahead of Earnings, Robotaxi Event
Analysts weren’t expecting Tesla to deliver (literally), but the EV maker disappointed a little less than usual in the second quarter. Tesla delivered ~444K vehicles, a 14.8% increase from the previous quarter — sending its stock up 10% yesterday. Still, this marks the second consecutive quarter of lower deliveries, despite significant price cuts and attractive leasing deals.
- Q2 deliveries dropped by 4.8% compared to the same quarter last year, partly due to slower sales and shipping delays.
- Wells Fargo analyst Colin Langan maintained his sell rating, citing “declining delivery growth” and lower profits from price cuts.
The road ahead: Tesla’s stock is still down 7% year-to-date — and the coming weeks could provide even bigger moves. The company will report earnings on Jul. 23 and will meet again on Aug. 8 to detail its robotaxi and self-driving vehicle plans. But the bigger news could come from Tesla’s cheaper model, which Musk said would arrive in 2025.
Read: Wells Fargo Describes Tesla as a “Growth Stock With No Growth”
