Tesla Shares Rise as Deliveries Rebounded in 2nd Quarter

Electric vehicle deliveries surged from the previous quarter but declined from 2024.

Tesla vehicles for sale at a Tesla dealership in Long Beach, Calif., on March 29, 2025. John Fredricks/The Epoch Times

Share prices of Tesla Motors (TSLA) rose by as much as 4 percent on July 2 after the electric vehicle (EV) maker reported a second-quarter rebound in deliveries.

Tesla reported total deliveries of 384,122 vehicles in the second quarter, marking a 14 percent increase from the first quarter. However, that figure also represents a 14 percent decline from the same period in 2024, when the company delivered 443,956 vehicles.

The automaker also confirmed that it produced 410,244 vehicles between April and June, up by more than 13 percent from the previous quarter but slightly below production levels in the second quarter of 2024.

“[Tesla] deliveries came in 4% above the whisper and in line with printed consensus,” Gene Munster, managing partner at Deepwater Asset Management, wrote on social media platform X. “Most investors, myself included, were expecting around 370k, down 17% [year over year]. Instead, they printed 384k, down 14%.”

The second quarter should “mark the bottom” for the EV maker, he said, noting that he does anticipate that the fourth quarter “will be noisy” because of expiring tax credits.

“The real test will be March ‘26 deliveries,” Munster wrote. “I expect +3%, vs the Street at +10%.”

The stock climbed by as much as 4.7 percent following the data, reaching about $314 per share. This year, Tesla share prices are down by about 19 percent.

Tesla will release its second-quarter earnings report on July 23.

Subsidy Criticism

The EV titan is grappling with a flurry of headwinds, including growing foreign competition and a political backlash over CEO Elon Musk’s support for President Donald Trump.

However, Musk’s relationship with Trump has been thrown into disarray over the billionaire entrepreneur’s opposition to the One Big Beautiful Bill Act. While their feud had simmered following the June meltdown, the two men exchanged terse words.

Musk criticized the tax cuts and spending bill and wrote in a post on X: “Every member of Congress who campaigned on reducing government spending and then immediately voted for the biggest debt increase in history should hang their head in shame! And they will lose their primary next year if it is the last thing I do on this Earth.”

He also said he would launch a third party if the megabill passes.

The president told reporters that he will “take a look” at determining whether the U.S. government should deport Musk.

“I don’t know,“ Trump said on July 1. ”We’ll have to take a look. We might have to put DOGE [Department of Government Efficiency] on Elon. You know what DOGE is? DOGE is the monster that might have to go back and eat Elon.”

Writing in a Truth Social post, Trump reiterated that the federal government should consider cutting subsidies for Musk’s ventures.

“Elon may get more subsidy than any human being in history, by far, and without subsidies, Elon would probably have to close up shop and head back home to South Africa,” the president said on July 1. “No more Rocket launches, Satellites, or Electric Car Production, and our Country would save a fortune.”

However, while the bill addresses various green energy subsidies, Musk has stated that lawmakers should eliminate all of them.

These comments caused Tesla share prices to decline by 7 percent at the July 1 close.

While Wall Street frets about the “junior high school friendship gone bad,” the situation will eventually improve, said Dan Ives, tech analyst at Wedbush Securities.

“Tesla to be weak [on July 1] as the Street will show concern that the Trump and Musk once BFF relationship now backfires and turns into a junior high school friendship gone bad into an enemy,” Ives wrote on X. “At the end of the day Musk needs Trump and Trump needs Musk. Will settle down.”