Tesla has been struggling to increase sales, despite offering financing deals and lowering prices. In the second quarter, their sales were down nearly 5% compared to the same period last year. However, the decline wasn’t as bad as analysts had predicted, causing Tesla’s stock to rise over 8% following the news.
Tesla’s downward trend in sales marks the second consecutive quarter that they have seen a decrease in deliveries. This indicates that the overall slowdown in the electric vehicle industry is affecting Elon Musk’s company. Despite the sales drop, some analysts see this quarter’s results as a positive comeback performance for Tesla. They believe that the worst is behind them and that demand for electric vehicles is starting to rise again.
Tesla reported delivering 443,956 units in the second quarter, slightly above Wall Street expectations. While investors tend to trust Musk due to his ability to defy expectations when faced with challenges, Tesla’s hard numbers may not always meet expectations. For example, the Model 3 faced doubts initially but has become a success for the company.
Looking towards the future, Musk has teased plans for an AI-driven robotaxi fleet, which will be further detailed in August. Tesla’s second-quarter financial results will be released on July 23 after the market closes.
+ There are no comments
Add yours