Tesla's Q2 deliveries slightly below expectations, stock rose 5%, tough comps in Q3

Tesla reported a 13.5% year-over-year decline in Q2 deliveries, totaling 384,122 vehicles. Despite falling short of the consensus estimate of 387,000, the numbers were better than expected. The company faces tough comps in Q3, potentially leading to a second consecutive year of declining deliveries.

Chinese rival BYD outpaced Tesla in EV sales in the first half of the year, posing a challenge to Tesla’s position as the world’s largest electric vehicle seller. Tesla’s Energy business also saw a slight decline in deployed energy storage products compared to the previous quarter.

Following the release of Q2 delivery numbers, Tesla’s stock rose by nearly 5%. The company’s upcoming Q2 earnings report will likely provide insights into its 2025 delivery guidance and the progress of its anticipated low-cost model. Analysts and Tesla are focused on autonomous driving and robotaxis as potential growth areas.

Despite political uncertainties and regulatory challenges, Tesla made progress with the launch of its robotaxi service in Austin. The company faces potential regulatory hurdles in Texas, with Governor Greg Abbott signing legislation granting the state authority to revoke permits of autonomous vehicle operators deemed a safety threat. Analysts remain cautious about Tesla’s stock in the current climate.

Read more at Yahoo Finance: Tesla’s Q2 Deliveries Were Not as Bad as Feared. Does That Mean You Should Buy TSLA Stock?