Tesla faces second consecutive year of decline in sales after another bad quarter

Tesla delivery In the second quarter of this year, 384,122 vehicles are struggling to bring sales pace back to 2023 levels, closing off another weak quarter for the company.

This represents a 13.5% decline from Tesla’s number delivered in the second quarter of 2022, meaning Tesla could fall below total revenue from 2024.

Sales in the quarter were slightly better than in the first quarter. The worst quarter of delivery in over two years. This was also the first quarter since CEO Elon Musk began working within the Trump administration, launching a nationwide “Tesla Takedown” protest.

Musk repeatedly explained that Tesla’s first quarter sales were inadequate. This was partly due to the closure of production lines at all factories in preparation for the launch of the upgraded Model Y. I was told to stay home for a few days in late May..

Tesla will reveal the financial impact of the tough quarter on July 23, when it releases its official revenue report on July 23.

The masks were reported last week He fired his longtime confidant Omead Afshar oversaw both manufacturing and sales in the US and Europe in his role as vice president. With the CEO’s time cut in the Trump administration, he has promised to devote more time to Tesla and his other businesses. Since then, Tesla has launched a limited version of its long-standing Robotaxi service in Austin, Texas, with Bloomberg News reporting that Musk is. Take over Afshar’s sales end.

other Automakers have been struggling to move EVs these daysFord announced this week that electric vehicle sales fell 31% year-on-year in the US (Tesla figures were due to global sales). Even Hyundai and KIA found early success in EVs in the state, but sales fell in the second quarter. General Motors defied this trend and increased U.S. EV sales year-over-year thanks to the new, improved model slate.

Tesla has tapped all the levers it needs to juice its sales over the past two years. It dramatically reduced prices in the US and overseas. We are running multiple low interest rate promotions. Also, all models have undergone minor upgrades, with the Model Y SUV getting one of the most notable facelifts.

The company has teased in the past few quarters that it has been working on “more affordable” models reportedly being something like the Super Strip Down Model YS and the Model 3 sedan. Although they have pledged to start production earlier this year, the company has not said whether that happened or not. Musk It was abandoned previously Plans to build a $25,000 car on the same next-generation platform that will bolster Tesla’s dedicated Robotaxi vehicle, Cybercab, are still in the prototype phase.