Tesla reported second-quarter deliveries of 480,126 electric vehicles, surpassing analyst expectations of around 400,000 units. Despite the beat, shares fell 6% on Thursday.
The decline came as U. S.
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market performance weakened, with Cox Automotive data showing a 20% drop in Tesla's U. S.
deliveries during the quarter. Automotive News estimated a smaller decline of 8%.
International demand provided a bright spot. In Europe, deliveries surged, with Deutsche Bank forecasting a 40% rise driven by higher gasoline prices.
China posted steady results.
Industry Trends and Challenges
Automotive retailers face mounting pressure as new-vehicle loan terms lengthen. The average loan term reached 70.4 months in the second quarter, according to Edmunds.
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Dealers expressed wariness about extending financing to 96 months, citing increased risk. Consumers are also grappling with negative equity, which may dampen future purchasing power.
In other developments, Rivian updated its 2026 delivery guidance to between 65,000 and 70,000 vehicles, fueled by anticipated demand for its new R2 SUVs that compete with Tesla's offerings.
Chery has officially taken control of the Nissan manufacturing plant in Rosslyn, South Africa.
Charlie Zhang, Vice President of Chery Auto, stated the company aims to transform the facility into a complete auto center with R&D, supply chain operations, and training, supporting Chery's goal of exceeding 100,000 annual vehicle sales in South Africa.
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Production is expected to begin in mid-2027 after millions in facility upgrades.
