Tesla announced on July 2nd that it delivered a record 480,126 vehicles in the second quarter, vastly surpassing analysts' consensus estimates of around 406,000. [1, 2, 7] The strong performance was reportedly driven by a significant rebound in European markets and growth in China. [1, 9] The delivery numbers exceeded production by about 28,000 vehicles, indicating a reduction in existing inventory. [1]
Despite the blockbuster delivery report, Tesla's stock plunged 7.5%, marking its worst one-day decline in nearly a year. [2] Analysts attribute the sell-off to a classic "buy the rumor, sell the news" scenario, as the stock had rallied significantly in the week preceding the announcement. [2] Investors now appear to be shifting their focus to the company's upcoming earnings report on July 22, seeking clarity on profit margins and progress in its AI and Full Self-Driving (FSD) initiatives. [1, 2]