Sales of Tesla electric cars experienced a significant 13% drop in the last three months.
The big picture: The sales fell from 443,956 to 384,122 units in the April to June period, signaling a notable decrease in consumer demand for Tesla vehicles.
- The drop in sales raises concerns about Tesla’s financial performance, with concerns that the anti-Musk sentiment could lead to disappointing second-quarter earnings.
- Musk’s departure from the Trump administration and the expectations of recovery in sales did not materialize, indicating a potential struggle for Tesla in retaining market share.
Zoom in: Sales figures for Models 3 and Y totaled 373,728, surpassing the Wall Street analyst estimate of 356,000 units.
- Following the release of sales data, Tesla shares experienced a 4% increase in premarket trading, showing that the market reacted positively to the sales figures exceeding analyst estimates.
