Tesla's vehicle deliveries fell 13% in the second quarter, totaling 384,122 units, the largest decline in the company's history. This drop follows a first-quarter decline to 336,681 units. Sales have plummeted in European and Asian markets, partially due to increased competition from other EV manufacturers, particularly BYD. The Chinese company surpassed Tesla in revenue and unit sales in Europe for the first time. Despite challenges, including controversial leadership decisions by Elon Musk, Tesla's stock has incrementally increased, although overall trends indicate annual downturns.
Tesla reported 384,122 total vehicle deliveries for the second quarter, marking a 13% decline compared to 443,956 in the same period last year. This decline is Tesla's biggest quarterly drop in history.
The decline follows a previous drop in the first quarter where Tesla reported 336,681 deliveries, down from 386,810 the previous year. Analysts expected low performance.
Despite the decline in vehicle deliveries, Tesla's stock rose 4.4%. However, it faces ongoing challenges from Musk's controversies, policy changes, and growing competition in the EV market.
BYD has outpaced Tesla in revenue, rising to $107 billion last year and outselling Tesla in Europe for the first time in April with 7,231 electric vehicle sales.
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