\n<\/p>\n
Tesla blew past \u200bWall Street estimates for second-quarter deliveries on Thursday, posting a record for the period as recovering demand in Europe outweighed persistent weakness in North America.<\/p>\n
The strong figures suggest Tesla\u2019s \u2060mainstay auto business is regaining momentum after two straight annual sales declines, providing the spending cushion needed to power its ambitions in autonomous driving and artificial intelligence \u2013 the main drivers of the company\u2019s roughly $1.6tn valuation.<\/p>\n
Tesla expects to spend more than $25bn on capital expenditure in 2026, nearly triple the $8.5bn last year, to expand \u200bAI infrastructure, battery production, Cybercab manufacturing and Optimus robots.<\/p>\n
\u201cI \u200cthink the huge growth in Europe \u200cis the key driver for Tesla right now. US sales still appear to be down, albeit less than the broader \u200cUS EV decline, while China is seeing small growth,\u201d said Seth Goldstein, senior equity analyst at Morningstar.<\/p>\n
Tesla\u2019s recovery in Europe was aided by government EV incentives, faster electrification of corporate fleets, higher fuel prices and an easing of the consumer backlash over CEO Elon Musk\u2019s far-right politics last year.<\/p>\n
The company delivered 480,126 vehicles in the April to June period, a record for the second quarter and up about 25% from a year earlier, easily surpassing analysts\u2019 average estimate of 402,776 vehicles, according \u200cto Visible Alpha data.<\/p>\n
Tesla produced 451,758 vehicles during the quarter. The deliveries exceeded production by more than 28,000 vehicles, leading the company to draw down inventory that it built up during the first quarter.<\/p>\n
The \u200bcompany\u2019s China-made EV sales have risen this year, helped by production of the refreshed Model Y, despite intense competition from BYD and other domestic automakers.<\/p>\n
Earlier in the day, smaller \u200brival Rivian raised its annual deliveries forecast and \u200bbeat estimates for second-quarter deliveries.<\/p>\n
Tesla has continued to roll out its \u201cfull self-driving\u201d (FSD) advanced driver assistance \u200bsoftware in Europe, although it \u200cis only available in a \u200bhandful of countries. Analysts \u200bexpect broader availability over the coming months to support demand.<\/p>\n
The company expanded its robotaxi operations after launching a limited commercial service in Austin in June. Musk has said the company intends to rapidly expand the service through 2026.<\/p>\n
Production of the Cybercab, Tesla\u2019s purpose-built autonomous vehicle without pedals or a steering wheel, is expected to ramp up later this year.<\/p>\n","protected":false},"excerpt":{"rendered":"
Tesla blew past \u200bWall Street estimates for second-quarter deliveries on Thursday, posting a record for the period as recovering demand in Europe outweighed persistent weakness in North America. The strong figures suggest Tesla\u2019s \u2060mainstay auto business is regaining momentum after two straight annual sales declines, providing the spending cushion needed to power its ambitions in<\/p>\n","protected":false},"author":1,"featured_media":50868,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[1723,108,2624,1371,3116,3570,20614,1381],"class_list":{"0":"post-50867","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-backlash","9":"tag-cool","10":"tag-expectations","11":"tag-musk","12":"tag-quarter","13":"tag-sales","14":"tag-surpass","15":"tag-tesla"},"_links":{"self":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/posts\/50867","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=50867"}],"version-history":[{"count":0,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/posts\/50867\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/media\/50868"}],"wp:attachment":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=50867"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=50867"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=50867"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}