According to Reuters, as Tesla’s price reduction and incentives helped ease the decline in demand, the company announced on July 2 that car delivery fell by 5% in the second quarter, a drop that was less than the market expected.
Specifically, Tesla delivered 443956 cars in the three months to June 30, down 4.
8% from the same period last year, but up 14.
8% from the previous quarter.
Tesla is expected to deliver 438019 vehicles in the second quarter, according to an average estimate of 12 analysts by the London Stock Exchange Group (LSEG).
However, Tesla actually delivered 422405 Model 3 and Model Y, as well as 21551 other models, including the Model S sedan, Cybertruck and Model X Advanced SUV.
In the same period, the company produced 410831 cars.
Tesla’s share price rose more than 10% on July 2 after the sales announcement, reaching its highest level in nearly six months.
Garrett Nelson, an analyst at CFRA Research, said the higher-than-expected delivery data “greatly alleviated concerns about weak demand for electric vehicles”.
“at Tesla’s annual general meeting in mid-June, shareholders re-approved Musk’s 2018 compensation plan, and the stock continued to maintain a positive upward momentum,” he said of Tesla’s chief executive, Elon Musk.
” Edmunds, a research firm, said that while some analysts and investors believed that the rebound in share price and delivery data were seen as positive signs of improvement for Tesla ahead of the launch of the driverless taxi on Aug.
8, other analysts and investors also expressed concern about Tesla.
They believe that Tesla’s frequent use of price cuts and increased incentives to attract consumers may mean that the company has “exhausted its tricks”.
, Model 3.
Photo: Tesla, in the Chinese market, competitors continue to introduce cheaper models, while Tesla is relatively slow to launch new models.
In addition, high interest rates have dampened demand for electric cars.
Despite resistance to Tesla’s main car business, investors voted overwhelmingly in support of Mr Musk’s record $56 billion compensation package at the shareholder meeting.
Robyn Denholm, chairman of the board, said before the vote that it was necessary to restore the pay package in order to “make Elon focus on Tesla and motivate him to continue to work for Tesla”.
Musk posted on social media that the rise in Tesla’s stock on July 2 was “negligible compared to self-driving cars and Tesla’s humanoid robot Optimus.
” Musk has said that once Tesla successfully achieves technological breakthroughs and commercial applications of autopilot and humanoid robots, his market value will be greatly increased.
Tesla did not provide a breakdown of regional sales, but some analysts said better-than-expected sales in China and the US may have helped Tesla achieve stronger-than-expected results.
In April, Tesla cut prices again in key markets such as the United States, China and Europe.
At the same time, Tesla provides zero or near-zero interest rate loans to consumers in China and the United States.
In the United States, the company has also vigorously promoted its leasing program to qualify consumers for $7500 in federal credit.
In China, local carmakers recorded double-digit sales growth in the second quarter.
BYD said its sales of pure electric vehicles jumped 21 per cent to 426039 in the second quarter.
By contrast, Tesla’s shipments in China, including domestic sales and exports to Europe and other countries, fell 17 per cent in the second quarter from a year earlier.
Tesla did not disclose the details of its sales in China.
In Europe, Tesla’s sales performance was weak, with sales falling 36% in May alone compared with the same period a year earlier, mainly due to reduced subsidies for electric vehicles and weak demand for electric vehicles by fleet operators.
Last year, fleet operators accounted for nearly half of Tesla’s sales in the region.
Meanwhile, Rivian’s car deliveries rose about 9% in the second quarter from a year earlier, exceeding analysts’ average expectations.
GM said its electric vehicle sales rose 40 per cent in the second quarter from a year earlier, while Hyundai and Kia also increased sales during that period.
Tesla, for the first time, experienced a year-on-year decline in sales for the first two consecutive quarters.
Still, Mr Musk said he expected Tesla’s delivery to increase in 2024 compared with the same period last year.
However, Wall Street expressed pessimistic expectations for electric vehicles, saying that sales were likely to fall.
Tesla said in January that he expected delivery growth to “significantly slow” this year.
In his latest impact report released in May, Tesla did not mention his previous target of delivering 20 million electric vehicles a year by 2030, a major change.
Tesla has been vigorously promoting his long-term goal of 50 per cent annual growth in electric vehicle delivery for many years.
In the face of the difficulties faced by Tesla, Musk took a variety of measures, including large-scale layoffs, to reduce operating costs, and announced that Tesla would abandon some major strategic plans, including the launch of long-awaited affordable models.
Musk has said that Tesla may launch new inexpensive models based on Tesla’s current platform and production line by the end of this year.
The model, which was originally expected to sell for just $25000, is seen as an important weapon for Tesla to compete with Chinese competitors.
Musk promised to focus Tesla on self-driving cars, but some investors and experts remain skeptical about Tesla’s ability to improve self-driving technology in the short term.
Tesla shares rose 7.
7% to $226.
11 on the afternoon of July 2nd.
The company’s shares have fallen about 9 per cent so far this year.
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