Vehicle deliveries were down 13% year-over-year to 384,112, with the Model 3 and Y seeing sales of 373,728 while other models saw sales of 10,394. The slump in sales saw Tesla report $16.7 billion in automotive revenue in the quarter, down 16% year-over-year.

Tesla is slated to report second-quarter results after the market closes on Wednesday, after deliveries fell short of estimates earlier this month.

Analysts expect the Austin, Texas-based company to report quarterly earnings at 40 cents per share, down from 52 cents per share in the year-ago period. Tesla projects to report quarterly revenue at $22.13 billion, compared to $25.5 billion a year earlier, according to data from Benzinga Pro.

Tesla revenue dropped 12%, and profits slumped 16% in the three months through June as buyers continued to steer clear, and in some cases, turn to more affordable competitors' offerings.

AI positivity drove Alphabet's shares to new heights, but Musk's "rough quarters" warning saw Tesla's share price slump

The Dow Jones surged 464.69 points (+1.04%) to 44,967.13, while the S&P 500 gained 38.93 points (+0.62%) to 6,348.55, and the Nasdaq climbed 75.04 points (+0.36%) to 20,967.73.

Second quarter earnings season is in full swing, and the results have been largely positive so far, with more positive surprises than negative ones. Companies had a lower bar to clear coming into the quarter,

After soaring in 2023 and 2024, shares of Tesla (NASDAQ:TSLA) were battered throughout Q1 2025. And while the stock performed marginally better in Q2, the largest U.S. EV-maker slid into Q3. However,

Earnings season is in full swing, and the numbers are coming in strong. Roughly 83% of S&P 500 companies that have reported so far have topped

Shares of Tesla fell Thursday, a day after the company said electric vehicle sales continued to decline. Chief Executive Elon Musk said on the earnings call that the EV business is slumping while its autonomous vehicle business hasn't taken off yet.