Tesla’s recent week has been a mixed bag, with impressive Q2 delivery numbers but a decline in stock price. Here’s a breakdown of the major stories:
Q2 Deliveries Jump 25%
Tesla reported a significant increase in Q2 deliveries, with a 25% jump driven primarily by the Model 3 and Model Y. The company delivered over 480,126 vehicles during the quarter, and energy storage deployments reached 13.5 gigawatt-hours (GWh).
Ross Gerber on Tesla’s Stock Decline
Investor Ross Gerber attributed Tesla’s stock decline to the market’s negative reaction to the company’s sales numbers. He also highlighted the company’s limited model range and issues with FSD safety. Despite these challenges, Tesla’s price trend remains favorable in the short, medium, and long term.
Tesla Launches Three-Row Model Y L
Tesla has officially launched its six-seater Model Y L in the US, priced at $61,990. The new model comes with a free 12-month subscription for Supervised Full Self-Driving (FSD), a tow hitch, 19” wheels, and free 12-month access to Tesla’s Supercharging network.
NHTSA Closes Investigation Into Tesla Vehicles
The National Highway Traffic Safety Administration (NHTSA) closed a probe into 695,000 Tesla Model Y and Model 3 vehicles over an automatic braking issue. The agency also closed a probe into Tesla’s power steering woes after the company recalled affected vehicles and issued an over-the-air software update.
Tesla Snubbed in California’s New EV Incentives
California passed a $135 million program to incentivize first-time EV buyers, but Tesla was notably absent from the list of beneficiaries. This could be a blow to the EV giant’s sales, especially with the expiration of the $7,500 federal EV tax credits.
Key Takeaways
- Tesla’s Q2 deliveries increased by 25%, driven by the Model 3 and Model Y
- The company’s stock declined despite delivery success, attributed to limited model range and FSD safety issues
- Tesla launched its six-seater Model Y L in the US, with a free 12-month FSD subscription and other perks
- NHTSA closed investigations into Tesla’s automatic braking and power steering issues
- Tesla was excluded from California’s new EV incentives program, potentially impacting sales