Tesla delivered 480,000 vehicles last quarter, blowing past Wall Street expectations

Wall Street's consensus forecast called for roughly 406,600 deliveries, , according to CNBC, while a separate estimate compiled by Tesla itself put the number at 406,024. Both figures represent meaningful improvement: Deliveries stood at roughly 384,000 in last year's second quarter and at 358,023 in the first quarter of 2026.

The company produced 451,758 vehicles in the quarter. The Model 3 sedan and Model Y SUV together accounted for 467,762 of the deliveries, with other models making up the remaining 12,364, the company said.

On the energy side, storage deployments reached 13.5 GWh, a jump from 9.6 GWh a year earlier and slightly above the 13.3 GWh analysts had anticipated.

The company will report full financial results for the second quarter after market close on July 22, the company said. Tesla noted that deliveries and storage deployments are not necessarily indicators of quarterly financial results, which depend on factors including average selling price, cost of sales, and foreign exchange movements.

The strong quarter comes as Tesla attempts to turn around a two-year run of falling annual sales, a slide attributable in part to buyers souring on the brand over CEO Elon Musk's political profile and to the expiration of a U.S. federal EV tax credit. At the same time, rivals from China such as BYD, Nio, and Xiaomi have gained ground with cheaper, technology-forward models, and automakers like Hyundai and various European brands have intensified the fight for EV buyers globally, according to the outlet.

Among the steps taken to boost demand, Tesla began offering cheaper variants of the Model 3 and Model Y and brought its driver-assistance technology, sold under the Full Self-Driving (Supervised) label, into select European markets. Surging fuel costs stemming from the Iran conflict pushed European consumers toward electric vehicles in the first half of the year, giving Tesla an additional tailwind, though that advantage has faded as oil prices retreated after a U.S.-Iran truce took hold, according to the outlet.

Through Wednesday's close, Tesla shares had fallen roughly 5% in 2026, compared with a 12% gain for the Nasdaq $NDAQ.