Tesla has posted its second quarter delivery numbers — and they’re not looking good.
As the New York Times reports, the company reported it had delivered just 384,000 vehicles between April and June, a massive drop from 444,000 vehicles over the same period last year.
Meanwhile, CEO Elon Musk has focused his carmaker’s resources on developing a robotaxi network of fully autonomous vehicles. However, given a disastrous launch filled with near-collisions, bizarre driving behavior, and human “safety monitors” being forced to jump into the driver’s seat, dropping sales are only the tip of the iceberg of Tesla’s troubles.
The company’s brand has been dragged through the mud by its mercurial CEO’s embrace of far-right talking points, leading to plummeting demand and furious protesters denouncing Musk in front of dealerships.
Worse yet, international competition is really starting to ramp up. While Tesla’s sales numbers have been dropping for months now, interest in EVs, particularly in the offerings of Chinese carmakers like BYD, is still steadily increasing.
Investors and analysts alike were expecting bad news for Tesla’s second quarter.
“We expect Tesla’s 2Q25 deliveries to miss… but this shouldn’t come as a surprise,” Deutsche Bank analysts wrote in a note earlier this week, citing cratering European sales.
However, considering the company’s shares have risen more than this morning, chances are investors were prepared for far worse — or simply looking for a good deal after the stock slid more than five percent on Tuesday.
In April, the company reported an astonishing 71 percent drop in net income since the first quarter of last year, indicating the company was seriously struggling.
Even the billionaire’s purported departure from the world of politics and return to his EV business hasn’t helped the situation. The company’s shares are still down roughly 22 percent year to date.
Musk, for his part, is still locked in an ugly spat with president Donald Trump, who threatened this week to cut him off from all subsidies and look into deporting him.
The South Africa-born entrepreneur has been desperately trying to paint his carmaker’s chaotic robotaxi launch as a success, gloating about the company completing the first fully autonomous car delivery.
“There were no people in the car at all and no remote operators in control at any point,” he tweeted over the weekend. “FULLY autonomous!”
But the stunt ended in an embarrassing flub, with the modified Model Y stopping at a brightly red-colored curb that read “NO PARKING FIRE LANE.”
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