Tesla EV sales plunge again after Elon Musk backlash
Why it matters: EVs are an essential source of cash flow for Tesla as it pursues ambitious projects like self-driving cars and humanoid robots.
Driving the news: Tesla's EV deliveries — a close proxy for sales — fell 13.5% to 384,122 in Q2, compared with a year earlier.
Sellside analysts had projected a range of 380,000 to 390,000, though "online trackers" expected 345,000 to 360,000, according to Evercore ISI.
Tesla shares rose 4.8% in pre-market trading to $315.06.
Zoom in: Deliveries of the Model Y crossover and Model 3 sedan fell 11.5%.
Deliveries of other vehicles — the category that includes the Cybertruck — plunged 51.8%.
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Newsweek
28 minutes ago
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Gizmodo
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Forbes
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