- Tesla sales are down nearly 5% in the second quarter.
- The performance still isn’t as bad as analysts expected.
- Tesla’s stock price surged in early trading following the news.
Tesla’s deliveries fell for a second straight quarter, down nearly 5% compared to the same period a year ago.
Tesla reported second-quarter sales of 443,956 units Tuesday morning, down from 466,140 in the same quarter a year ago but topping analyst expectations.
While the decline in sales is yet another sign that an industry-wide EV slowdown is finally affecting Elon Musk’s Tesla, Tuesday’s deliveries were not as bad as some analysts had expected.
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Analysts polled by Bloomberg had expected Tesla to deliver 439,302 cars in the second quarter, a roughly 6% decline compared to last year.
Tesla’s stock rose as much as 5% in early trading.
