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Tesla Stock Surges on Better-Than-Expected Q2 Deliveries ...
2024-07-02 15:02:00

Tesla Stock Surges on Better-Than-Expected Q2 Deliveries Despite Challenges

Despite challenges in the global electric vehicle market and a tough start to the year, Tesla's stock rose significantly as the company surpassed Wall Street estimates with its second-quarter delivery figures. Although deliveries fell 4% compared to the previous year, Tesla delivered 443,956 vehicles in Q2, exceeding analyst predictions and showcasing a 15% increase from the first quarter.

Analysts have been closely monitoring Tesla's profit margins and overall sales performance, with a particular focus on the impact of Chinese EV makers' strong delivery reports on Tesla's stock performance.

Related news on that topic:

Tesla Facing Decline in Deliveries Amidst Growing Competition in ... EV Market

Tesla is anticipated to announce a 3.7% decrease in deliveries for the June quarter, marking the second consecutive quarter of decline attributed to competition in China and subdued demand for new models. The company's challenges include a shift towards cheaper hybrid vehicles, inventory accumulation, and postponed plans for new electric car models, while also concentrating on the advancement of robotaxis. Analysts are lowering their estimates for Tesla's second-quarter sales, with scrutiny on profit margins and energy storage figures. Despite Tesla's struggles, Chinese EV makers like Li Auto, Xpeng, and Nio are experiencing strong sales, with Nio breaking records for the second consecutive month, indicating intense competition in the premium EV segment.

Tesla's Stock Surges Despite Decline in Electric Car Sales

Despite recording a decrease in production and deliveries of electric cars in the second quarter of 2024, Tesla's stock price surged by over 8% as investors anticipated a larger decline. The company also achieved a new milestone by delivering 9.4 GWh of batteries for stationary use. Although facing challenges and competition in the EV market, Tesla's shares have rallied over 55% since April. The decline in sales is attributed to a general slowdown in the EV market and increased competition. Analysts believe Tesla's worst sales performance is in the past, expecting improvements as the company focuses on cost reduction and profitability.

The press radar on this topic:

Yahoo Finance
21. Juli 2024 um 11:20

Tesla Vs. BYD: TSLA Holds Key Level Amid EV Woes, Robotaxi Hopes; BYD In Buy Zone As Margins Soar | Investor's Business Daily

Politics
China's electric-vehicle (EV) and battery giant, BYD, surpassed Tesla in vehicle sales for all-battery EVs in Q4 2023 but Tesla regained the title in Q1 2024. However, both companies reported significant declines in Q1 deliveries due to seasonal weakness in China and a slowdown in global EV demand. While Tesla has been slashing prices and focusing on robotaxis, BYD has rebounded with big price cuts, new models, and plans to unveil better batteries and hybrid systems.
The Street
3. Juli 2024 um 12:17

Analyst puts Tesla stock on key ideas list as Q2 deliveries loom

Finance
Technology
Economy
Tesla shares rose ahead of the release of its second quarter delivery figures, despite a tough start to the year. Analysts predict another disappointing quarter for overall deliveries, with concerns about declining earnings and demand for the Model 2. However, some analysts believe that Tesla's focus on AI and robotics, as well as its autonomous driving technology, could be the key to its future success.
Yahoo Finance
2. Juli 2024 um 11:08

Tesla Stock: Q2 Delivery Expectations Are Coming Down. But What About Energy Storage?

Environment
Technology
Analysts expect Tesla's second-quarter global vehicle deliveries to come in below the consensus, but there is also focus on Tesla's Q2 energy storage numbers. The current estimate is a 6.5% decrease compared to last year's deliveries, but a 13% increase compared to Q1. Tesla's energy business could benefit from investment in the US electrical grid accelerated by the AI boom.
Yahoo Finance
1. Juli 2024 um 16:28

Why Tesla Stock Popped Ahead of Second-Quarter Deliveries

Finance
Economy
Politics
Tesla's stock rose by 5.5% ahead of its second-quarter EV delivery data report, as Chinese EV makers reported strong June and second-quarter deliveries, potentially influencing optimism for Tesla's report. Analysts have been lowering estimates for Tesla's second-quarter sales, with attention also on profit margin details in the upcoming financial report.
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