Tesla's Q2 Vehicle Deliveries Down 4.8%... Stock Price Soars 9%

Second Quarter Delivery Volume 443,956 Units... Exceeds Market Expectations

American electric vehicle company Tesla's vehicle deliveries in the second quarter of this year decreased by nearly 5% compared to a year ago. This marks two consecutive quarters of decline following a contraction in the first quarter for the first time in four years.

On the 2nd (local time), Tesla announced that it delivered 443,956 vehicles from April to June this year. This is a 4.8% decrease compared to the deliveries in the same period last year (466,140 vehicles).

However, the second-quarter delivery volume exceeded the expert forecast of 439,000 units compiled by market research firm FactSet, and also increased by 14.8% compared to the first quarter (386,810 units).

It is analyzed that Tesla's vehicle demand has decreased amid a slowdown in the global electric vehicle market growth and intensified competition among companies. Unlike competitors, Tesla has not released new models, which is also cited as a factor weakening its competitiveness. Tesla's most popular model, the 'Model Y,' has been on the market for nearly five years. Additionally, in China, electric vehicle sales in June plummeted by 24% compared to a year ago due to intensified competition among electric vehicle companies.

China's largest electric vehicle company, BYD, recorded electric vehicle sales of 426,039 units in the second quarter, a 21% increase compared to the same period last year.

Accordingly, Tesla has started offering electric vehicle price discounts in major countries, including China, to expand electric vehicle sales.

Investors' attention is focused on the upcoming second-quarter earnings announcement scheduled for the 17th and the Robo-taxi unveiling in August.

Colin Langan, an analyst at Wells Fargo, recommended selling Tesla stock, stating, "Delivery growth is declining due to decreased demand, and profits are shrinking due to price cuts."

Meanwhile, as Tesla's second-quarter vehicle deliveries exceeded market expectations, the stock price surged 9.38% as of 2:47 PM on the same day compared to the previous trading day.