Tesla Q2 deliveries beat forecasts, shares surge 8%

Tesla reported delivering 480,126 vehicles in the second quarter, far above analysts’ estimate of about 406,000 units. European sales rose 77% from January to May, underscoring renewed demand in the region. Following the earnings release, Tesla’s shares jumped roughly 8% when trading resumed. The company has halted production of its premium Model S and Model X, concentrating output on Model 3, Model Y and the upcoming Cybertruck, of which 12,364 units were shipped. Investor Michael Burry disclosed a short position on Tesla stock after it reached $416.22, though he did not specify the size of the bet. The strong delivery figures offered a positive signal, even as market sentiment remained mixed.