Analysts are estimating the carmaker will report on Tuesday that it handed over 441,019 electric vehicles in the second quarter, a 5.4% drop from a year ago. This would be a second consecutive quarterly decline, which Tesla last posted when it was phasing out its first model, the Roadster, in 2012.
Chief Executive Officer Elon Musk has tried all sorts of moves to stoke demand for Tesla’s vehicles, including slashing prices and offering cut-rate leasing deals. But the discounting didn’t stop the company’s sales from decelerating in the second half of last year, before giving way to decline as the broader EV market cools.
Tesla is having a hard time building on the success of the Model Y, which was the best-selling vehicle in the world last year. The sport utility vehicle has been on the market since 2020, while the Model 3 sedan debuted three years earlier.