The latest delivery figures suggest that Tesla’s core passenger vehicle business regained momentum despite challenging electric vehicle demand in the United States. The company’s aging vehicle lineup continued to account for the overwhelming majority of its sales during the quarter.
Tesla announced that it delivered 480,126 vehicles worldwide in the second quarter, representing a nearly 25% year-over-year increase. Most of those deliveries came from the Model Y and Model 3, while the remainder consisted of the Cybertruck and the now-discontinued Model S and Model X.
Tesla Exceeds Wall Street Delivery Expectations
Tesla’s second-quarter delivery total came in well above analyst expectations compiled by the company only days before the official release.
Tesla’s consensus estimate, based on forecasts from 22 Wall Street analysts including Wedbush Securities, Morgan Stanley, and Barclays, stood at 406,024 deliveries for the quarter. The company ultimately reported 480,126 deliveries, exceeding that consensus by more than 74,000 vehicles.
The Model Y and Model 3 accounted for 467,762 deliveries during the quarter. Tesla’s remaining models, including the Cybertruck along with the discontinued Model S and Model X, represented 12,364 deliveries, a 19% year-over-year increase.
European Sales Contributed to the Rebound
Tesla does not publish regional delivery figures in its quarterly reports, instead reporting only global totals. Still, registration data indicates that Europe played a significant role in the company’s latest sales growth.
According to the European Automobile Manufacturers’ Association, Tesla registrations in the European Union increased 77% year over year between January and May, rising from 50,309 vehicles to 89,180. In May alone, Tesla sold 21,767 vehicles across the EU.
Electric vehicle adoption remains more advanced in Europe than in the United States. It also states that the recent increase in oil prices linked to the war in Iran may have provided an additional boost to Tesla’s European sales.
Energy Storage Business Continues To Expand
Tesla also reported continued growth in its energy storage operations during the second quarter. The company deployed 13.5 gigawatt-hours of energy storage batteries during the period, compared with 9.6 gigawatt-hours in the same quarter last year. Tesla’s energy storage business has remained one of the company’s strongest-performing segments as demand from AI data centers and renewable energy projects has continued to grow.
Tesla also said its capital expenditures this year exceed $25 billion. The company stated that these investments will support the development and manufacturing of its Optimus humanoid robot, the expansion of its robotaxi business, and additional battery and artificial intelligence infrastructure projects.
The rebound in Tesla’s passenger vehicle business comes as the company continues to invest heavily across several areas beyond automotive manufacturing.
