Here are the key numbers:<\/p>\n
Total Q2 vehicle deliveries:\u00a0480,126Total Q2 vehicle production:\u00a0451,758<\/p>\n
Analysts were expecting around 406,600 deliveries, according to StreetAccount’s consensus. Tesla’s company-compiled consensus published last week was 406,024 deliveries.<\/p>\n
Shares of Musk’s EV maker sank about 7% on Thursday despite the strong report. The stock has fallen on each of the past three quarterly delivery reports.<\/p>\n
In the same period last year<\/a>, Tesla\u00a0reported around 384,000 deliveries, and in the first quarter<\/a> of 2026, the number came in at 358,023.<\/p>\n Thursday’s update showed a 25% year-over-year increase, and 34% increase versus the first quarter in deliveries for Tesla.<\/p>\n Tesla doesn’t break out exact delivery numbers by region or individual model, but the company said its entry-level Model 3 sedan and most popular Model Y SUVs accounted for 467,762, or 97% of its deliveries. Deliveries are the closest approximation of sales reported by Tesla but are not precisely defined in its shareholder communications.<\/p>\n Tesla is trying to recover from consecutive annual declines in vehicle sales that were partly caused by a consumer backlash against Musk, the world’s wealthiest person, and by the loss of a U.S. federal tax credit. Musk’s incendiary political rhetoric, endorsements of anti-immigrant extremists in Europe, and his work with the Trump administration to shrink the federal workforce drove away some prospective EV buyers.<\/p>\n Meanwhile, Chinese automakers like BYD, Nio and Xiaomi came to market with an array of more affordable, and high-tech EVs, while Tesla also faced increased competition from South Korea’s Hyundai Motor Group and European EV makers including Volkswagen.<\/p>\n To revitalize sales, Tesla started selling lower-cost versions of its Model 3 and Model Y vehicles, and more recently made its driver assistance systems, marketed under the brand name Full Self-Driving (Supervised), available in some European markets.<\/p>\n The biggest boon for the company in the quarter may have been soaring gas prices resulting from the war in Iran. European car buyers purchased more Tesla<\/a> and other EVs in the first half of the year. However, oil prices are now back<\/a> near where they were trading before the war began in February, in response to a fragile truce between the U.S. and Iran, and diplomatic efforts to bring the conflict to a lasting conclusion.<\/p>\n In the U.S., car buyers have pulled back from fully electric vehicles, and are embracing hybrids<\/a>, according to Dan Hearsch, managing director at AlixPartners. <\/p>\n “We have a huge country, and people live far away from each other compared to Europe where the charging infrastructure is better and people don’t have to drive quite so far,” Hearsch said.<\/p>\n In the second half of the year, inflation, shifting trade policy, the rising cost of chips and other components may pose the biggest challenges to U.S. automakers, he added. <\/p>\n Stock Chart IconStock chart icon Tesla stock chart.<\/p>\n Musk has directed Tesla to focus<\/a> on ramping production and sales of its Semi electric trucks, and to start production of its driverless Cybercab. The company is also looking to begin production of its Optimus humanoid robots. <\/p>\n In Tesla’s first quarter<\/a> investor update, the company said it was “optimizing” its vehicle portfolio, “with an emphasis on vehicles designed for a fully autonomous future” and expected “volume production of both Cybercab and the Tesla Semi this year.”<\/p>\n Tesla said<\/a> in January that it would stop producing its flagship Model S and X vehicles, and would use their factory lines in Fremont, California to build Optimus units. <\/p>\n In its Energy business, which installs solar photovoltaics and sells battery energy storage systems, Tesla said it deployed 13.5 GWh in the second quarter of 2026, compared to 9.6 Gwh a year ago. Analysts expected 13.3 GWh.<\/p>\n Musk’s SpaceX<\/a>, which owns xAI, bought $269 million worth of Tesla Megapacks in April, according to its IPO filing. SpaceX is using the Megapacks to reduce xAI’s electricity costs at its power-hungry data centers in and around Memphis, Tennessee. <\/p>\n In the second quarter deliveries report, Tesla did not disclose whether related-party transactions contributed to the strong numbers. Last year, SpaceX spent $131 million purchasing Tesla Cybertrucks. That dollar amount represented a large portion of the 20,237 Cybertrucks Tesla sold in 2025, according to Kelley Blue Book.<\/p>\n Tesla plans to report second-quarter financial results on Wednesday, July 22, after the market’s close. <\/p>\n WATCH: The auto industry is facing a demographic cliff<\/a><\/p>\n![\"hide](\"https:\/\/static-redesign.cnbcfm.com\/dist\/a54b41835a8b60db28c2.svg\")
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