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Tesla vehicle deliveries drop sharply as Musk backlash affects demand

  • Tesla reported a significant drop in quarterly deliveries, with 384,122 vehicles delivered in the second quarter, down 13.5% from the previous year.
  • Analysts had expected higher delivery numbers, with Tesla's stock falling amid concerns over brand damage in Europe and the US due to Elon Musk's political stance.
  • The decline in deliveries comes despite efforts to boost demand, such as refreshing the Model Y crossover, but production halts and delays impacted sales.
  • While Tesla aims to introduce a cheaper model and return to growth, Wall Street anticipates a second consecutive annual sales decline, making it a challenging goal for the company.

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