Tesla exceeds expectations as its EV sales start to rebound
When did Tesla last report an annual sales decline before this year?
Tesla last reported an annual sales decline in the second quarter of 2020, at the height of the pandemic lockdowns. This year, the company has seen annual sales decline in both the first and second quarters, marking the first time Tesla has experienced back-to-back quarters of annual sales decline2.
How did Tesla's second quarter car sales perform?
Tesla's second quarter car sales performed better than expected, delivering 443,956 vehicles and beating analysts' estimates. This marks a rebound from a disappointing first quarter and demonstrates the company's resilience amidst increased competition in the electric vehicle market.
What did Dan Ives say about Tesla's recent performance?
Dan Ives, a Wedbush Securities analyst, said that Tesla's better-than-expected second quarter for car sales marks a "comeback performance" after a disastrous first quarter. He added that the consensus view was that Tesla would miss Wall Street analysts' estimates, making the second-quarter sales "surprising to even the most bullish investors."