Tesla's second-quarter deliveries fall sharply, German June sales fall 60% year-on-year

Tesla's vehicle deliveries fell sharply in the second quarter, exceeding analyst expectations. Deliveries were 384,122, down 13.5% from the year-ago quarter, compared with analysts' expectations of 394,378. Tesla produced 396,835 Model 3/Y in the second quarter, compared with market estimates of 383,567. Tesla deliveries have declined by double digits for two consecutive quarters, and the market has responded positively. Although deliveries fell 13% year-on-year, they were slightly better than the most pessimistic expectations, and the stock price performed well. Tesla's new car sales in Germany in June fell 60% year-on-year to 1,860 vehicles. Tesla faces competitive pressure and political controversy with CEO Elon Musk. The company plans to launch a driverless taxi service and new models, but the decline in sales has affected profits. Musk has made reviving the auto business a key focus.