Tesla (TSLA) is bracing for another challenging quarter in terms of electric vehicle (EV) deliveries, with its Q2 report expected on Wednesday.
For the second quarter, Tesla is expected to report global deliveries of 395,328, per Bloomberg consensus estimates, down 11% compared to a year ago but significantly higher than the 336,700 delivered in Q1, News.Az reports, citing foreign media.
Production across its global plants is expected to come in at 443,321, up compared to last year’s 410,800 produced.
Sliding deliveries in the second quarter come as the company ramps up sales of its refreshed Model Y SUV, the company’s top seller, which was expected to boost sales.
Disappointing Q2 sales for Tesla are not exactly a surprise for investors and analysts following the company.
Tesla EV registrations (a proxy for sales) in Europe fell 27.9% in May compared to a year ago, per the European Automobile Manufacturers Association (ACEA). Meanwhile, overall EV registrations in the region, which includes the UK and the European Free Trade Association, rose 25% in May, with overall registrations down 0.6%.
May's total marks the fifth straight month of declining Tesla sales in the European region. Tesla sales year to date in Europe through May are down 37.1% to 75,196 units.
The situation isn’t much better in the US. Tesla EV registrations for April dropped 16% to 39,913 registrations, according to data published by S&P Global Mobility (via Automotive News). Meanwhile, General Motors' (GM) Chevrolet saw a 215% jump in EV registrations to finish in the second spot, with Ford (F) slipping to third place as sales fell 33%.
