Tesla delivers 480,126 vehicles in Q2, beating forecasts as Europe leads growth

Tesla reported global deliveries of 480,126 vehicles for the second quarter, a 25% year‑on‑year increase and well above the consensus of roughly 406,000 units. Production for the quarter was 451,758, meaning deliveries exceeded output and inventories were reduced. The surge was driven primarily by a rebound in European demand, where sales rose around 40% year‑on‑year, offsetting a roughly 20% decline in the United States after the $7,500 federal EV tax credit expired. Chinese deliveries grew modestly, helped by refreshed Model Y production.

Tesla’s energy‑storage segment deployed 13.5 GWh, a 53% rise from the previous quarter and above analyst expectations. The market reaction was mixed: the stock rose less than 1% in pre‑market trading but fell about 6% after the results as investors priced in uncertainty over margins and the company’s broader AI, autonomous‑driving and robotics ambitions.

In the same period, Chinese rival BYD sold 557,090 battery‑electric vehicles, outpacing Tesla’s global BEV shipments by roughly 77,000 units. Both manufacturers set Australian records: Tesla delivered 8,670 EVs in June, while BYD posted a historic 18,881 new‑energy vehicle sales. The competing performance highlights the intensifying rivalry in the global EV market.