Tesla shares fell about 7.5% on July 2, their worst single-day decline in nearly a year. The decline came even after the company reported second-quarter deliveries well above Wall Street expectations.
The selling came just three trading days after Tesla stock jumped more than 8% amid optimism about the rollout of new self-driving software.
Deliveries beat estimates, but the rally came early
Tesla announced 480,126 vehicles Delivery For the second quarter, versus the company consensus of 406,024 and StreetAccount appreciation From 406,600. Production reached 451,758 units.
The result represented a 25% jump over the same period last year. This also represents an increase of 34% compared to the 358,023 deliveries in the first quarter. Tesla also shipped more cars than it manufactured, reducing inventory that had ballooned earlier in the year.
Much of the preparation goes back to June 29th. Tesla shares achieved their largest single-day gain in more than a year after the crisis. FSD v14 Lite update Rolled. The update has arrived on older Hardware 3 vehicles for the first time in over a year. This rise actually reflects rising expectations for the delivery report itself.
Why the win still sinks the stock
CNBC’s Phil LeBeau called the numbers a clear win on air Thursday morning.
“The consensus estimate today was 406.6K vehicles. They beat it by 74,000 vehicles. So, that was a huge win for Tesla for Q2.”
Attribution: CNBC
Yet the stock fell anyway. Fund manager Gary Black male Tesla and Rivian shares rose as their delivery reports approached. This timing undermines the idea that a new enthusiasm for autonomy drove the previous period.
European gasoline prices are likely to rise due to the Iranian conflict I pulled Some forward order. The cheaper Tesla Model 3 and Model Y variants added to this effect. Chinese-made EV Dirty pink 24.4% year-on-year in June, while registrations in Norway fell by 43%.
The evaluation is still based on autonomy, not cars
Tesla’s roughly $1.6 trillion valuation now rests largely on the story of robotaxis and full self-driving rather than car sales. This reflects the doubts raised by investors during Tesla The 2010 IPO period is volatile.
National Highway Traffic Safety Administration Investigation remains Open for a fatal accident on June 19 related to Tesla’s driver assistance program. This probe maintains safety scrutiny on the same technology stack that Tesla now uses in its robotaxis.
Tesla announces its full second-quarter financial results on July 22. This release will show whether the speed of delivery came with pricing discipline or with margin-eating incentives.
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