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Tesla’s deliveries fell for a second straight quarter as the electric-vehicle maker contends with slumping demand in Europe and rising competition from western and Chinese rivals.
The company, led by Elon Musk, delivered 384,122 vehicles in the three months to the end of June, below the 389,000 forecast by analysts and down 13 per cent from 443,956 in the same period last year.
The second-quarter figure was an improvement from the first three months of the year when the company delivered 336,681 cars — its worst quarter since 2022.
As well as new and more affordable models from China’s BYD and European rivals including Renault and Stellantis, Tesla is grappling with a consumer backlash triggered by Musk’s political activism.
In May, Musk quit his role in Donald Trump’s administration, where he had led the so-called Department of Government Efficiency (Doge), to focus on running his business empire.
Tesla also recently released an upgraded version of its flagship Model Y car in an effort to reboot demand, while Musk touted the launch of its robotaxi service in Austin as a potential source of growth.
While the revamped Model Y helped drive a rebound in sales in Norway and Spain in June, registrations of Tesla vehicles fell 28 per cent in Europe and the UK in May, according to European car industry body ACEA.
Shares in Tesla bounced 3 per cent in early trading on Wednesday, rebounding from a drop on Tuesday when Trump suggested the subsidies handed out to Musk’s business empire should be investigated.
Chinese rival BYD charged ahead in the second quarter, delivering 606,993 electric cars, up 42 per cent from the same period last year.
Additional reporting by Gloria Li in Hong Kong
