Tesla reported the second-quarter electric vehicle (EV) delivery number better than analysts' estimates but saw the second consecutive yearly decline, partly blamed on the closure of a German plant, Caspian Energy Media reports with reference to “euronews.az”.
Tesla's shares soared by 10% on Tuesday amid better-than-expected car deliveries in the second quarter, despite a second consecutive year-on-year decline. Although weakened demand and fierce competition contributed to the sales slowdown, Tesla's production of affordable cars and its energy storage segment may drive future growth.
Tesla delivered 443,956 EVs in the second quarter, surpassing the Wall Street average estimate of 439,302. However, the figure represents a 4.8% drop from the same quarter last year, following an 8.5% year-on-year decrease in the first quarter. The consecutive declines mark the longest losing streak in quarterly delivery numbers since 2012.
