Overview
- Tesla reported 480,126 global vehicle deliveries for the second quarter, a 25% year‑on‑year rise that topped sell‑side forecasts and was announced on Thursday.
- The company produced 451,758 vehicles in Q2 and delivered roughly 28,368 more cars than it built, reversing a prior inventory buildup and drawing down stock at its factories.
- The delivery gain was concentrated outside North America as European demand surged while U.S. sales weakened, with Motor Intelligence estimating a nearly 20% drop in Tesla’s June U.S. volumes.
- Tesla is accelerating Full Self‑Driving rollouts in Europe and conducting public engineering tests of a production Cybercab, while warning higher spending on autonomy and robotics will press cash flow for the rest of 2026.
- The wider market is split: Rivian began R2 customer deliveries and showed early registration momentum, Toyota and Indian OEMs posted strong electrified growth, and U.S. legacy makers face EV demand and supplier timing challenges that could reshape competition and margins.