Tesla Q2 deliverities 444K vs 439K expected

Shares of Tesla were lower in the pre-market but rebounded into positive territory on this headline, up 4%.

• Q2 production 410.8K vs 433.3K in Q1
• Deliveries 444K vs 387K in Q1
• Deliveries down 5% y/y

There were whisper numbers as low as 423K that got louder after reporting 71K deliveries in China in June. That was down 24.2% on a year-over-year basis and compares to BYD at 340K, up 35.2% y/y.

That’s a pretty clear story of what’s happening in China as they take over. With tariffs coming/rising in North America and Europe, that will limit how much Tesla can export from China. At the same time, they’re hoping to get exemptions.

Ford CEO Jim Farley said this yesterday:

“If we cannot make money on EVs, we have competitors who have the largest market in the world, who already dominate globally; If we don’t make profitable EVs in the next 5 years, what is the future? We will just shrink into North America.”

This article was written by Adam Button at www.forexlive.com.