Tesla Faces Ongoing Challenges in Quarterly Deliveries
Tesla Faces Ongoing Challenges in Quarterly Deliveries, A Second Consecutive Decline in Tesla Car Deliveries Despite Musk's Efforts
Tesla has announced a second consecutive decline in its quarterly car deliveries, with 443,956 cars delivered in the second quarter of the year. Although this number exceeded analysts' average estimates of 439,302 cars, sales dropped by 4.8% compared to the previous year.
In the first quarter of the year, the company delivered 386,000 cars, indicating a quarter-on-quarter improvement. During this quarter, Tesla produced 410,831 cars, leading to a 4.8% rise in its shares in early trading.
Challenges Facing Tesla
Tesla is encountering several challenges, with Elon Musk having significantly reduced the workforce in April, affecting sales staff and possibly contributing to weaker sales. The production of the new "Cybertruck" model, the company's first new model in years, has also slowed.
Tesla attributed the decline in first-quarter deliveries to an arson incident at its factory near Berlin, along with shipping issues via the Red Sea. Despite fewer external disruptions over the past three months, the company continues to struggle to grow with an older range of vehicles.
Price Reduction Strategy
Musk ordered a reduction in car prices, but this was not enough to maintain momentum. In the second quarter, Tesla delivered 422,405 of its best-selling "Model Y" and "Model 3" cars, down from 446,915 cars last year.
"Cybertruck" Performance
Tesla has yet to disclose sales figures for the "Cybertruck," a small truck that began deliveries late last year. Two recall campaigns in June indicated that more than 11,000 trucks were delivered to customers.
During the company's annual shareholder meeting last month, Musk announced the production of 1,300 trucks in a week, without specifying when. He also promised to launch new, more affordable models by early next year, prioritizing the development of a fully autonomous self-driving taxi, with a conference scheduled to unveil it on August 8.
Tesla continues to face multiple challenges as it works to improve deliveries and innovate with new models in an increasingly competitive electric vehicle market.