Overview
- Tesla reported 480,126 vehicle deliveries for the second quarter on Thursday, July 2, beating the company-compiled Wall Street consensus by roughly 74,000 units.
- Production for Q2 was 451,758 units, so deliveries exceeded output by about 28,000 vehicles as Tesla drew down inventory built earlier in the year.
- Model 3 and Model Y made up the bulk of the surge with 467,762 deliveries, and Tesla deployed 13.5 GWh of energy storage in the quarter.
- The delivery rebound was driven mainly by Europe and other international markets while U.S. sales stayed weak after the $7,500 federal EV tax credit expired in September 2025.
- Investors gave a mixed reaction because the beat improves near-term volume but does not change Tesla’s plan for roughly $25 billion in 2026 capex and its long-term pivot to autonomy, AI and robotics.