Tesla's Q2 Vehicle Deliveries Drop 14%... Down for Second Consecutive Quarter
384,122 Units Delivered from April to June This Year
Decline for Two Consecutive Quarters
Slowdown in EV Market Growth and Anti-Musk Sentiment Affect Performance
The number of vehicles delivered by U.S. electric car maker Tesla in the second quarter of this year fell by 14% compared to the previous year, marking a decline for the second consecutive quarter.
On July 2 (local time), Tesla announced that it delivered 384,122 vehicles between April and June this year. This figure represents a 14% decrease from the same period last year and falls slightly short of Wall Street's expectation of 387,000 units, as compiled by market research firm FactSet.
As a result, Tesla's vehicle deliveries have declined for two consecutive quarters. In the first quarter, deliveries also dropped by 13% year-on-year to 336,681 units.
Tesla reported that it produced 410,244 vehicles in the second quarter.
The slump in Tesla's sales is attributed to a combination of factors: the slowdown in the growth of the electric vehicle market, and growing opposition to Tesla CEO Elon Musk, who has expanded his political influence under the Donald Trump administration. In addition, competition with Chinese electric vehicle companies that are introducing new and more affordable models is adding further pressure on Tesla.
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As of the previous day's closing price, Tesla's share price has fallen by 26% since the beginning of this year, making it the worst performer among major technology stocks. The conflict between Musk and President Trump has intensified, especially after Musk criticized the president's key tax cut agenda. This controversy has had a significant impact on the decline in Tesla's share price.
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