Tesla (TSLA) vehicle deliveries fell 14% while global competitors like BYD Co. (BYDDY) continued growth. "Tesla needs a gameplan to catch up," says Steve Westly, otherwise he sees the company falling behind.
Sales remained below pre-COVID levels, but it was the best June since 2019, the Society of Motor Manufacturers and Traders said.
GM sales jump 7.3% in Q2, fueled by more than 100% EV sales growth and strong demand for new models across gas and electric segments.
Tesla posts its steepest-ever delivery drop, yet its ETFs, such as TESL, XLY, VCR, NITE and FDIS, remain in focus amid increasing robotaxi ambitions.
Elon Musk's AI company xAI has been granted permission to operate 15 methane gas generators at its Memphis data centre, despite strong community opposition. The Shelby County Health Department approved the permit following months of public protests, though satellite images suggest over 20 turbines remain on-site, well above the permitted number.
Tesla's new car sales in Britain grew 12% year-on-year in June, data from research group New AutoMotive showed on Friday, as the U.S. automaker started deliveries of its updated Model Y last month.
Tesla's (TSLA) sales declined in Germany once again in June, falling 60% compared to the same month a year ago, while some analysts were looking past Wednesday's weak deliveries report and focusing on Tesla's self-driving software.
Tesla (NASDAQ: TSLA) saw a 41% year-over-year sales drop in Europe in May and continues to lose market share in China and the U.S.
TSLA Q2 deliveries fall 13.4% year over year to 384,122 units, missing Wall Street's estimate of 390,000.
TSLA faces falling demand, rising inventories, and fierce competition, raising the risk of a second year of delivery declines.
Challenges are piling up for the electric-vehicle maker and CEO Elon Musk, but the company's legion of individual investors are staying put.
Wall Street loves artificial intelligence but it also wants Tesla to sell more cars.