Tesla, after a sharp decline earlier this year, appears to be rebounding. The electric car-maker, led by Elon Musk, delivered nearly 444,000 vehicles in the three months ending June 30, a rise of over 14% from the previous quarter.
This surpassed most analysts’ expectations, though it was still down nearly 5% from the same period last year. Tesla has been grappling with reduced demand due to high borrowing costs and increased competition, prompting it to cut prices and introduce affordable financing options.
However, these efforts have had limited success. The company has also faced challenges like supply chain disruptions and factory incidents.
Analysts suggest Tesla needs to refresh its product lineup to fend off competitors. Despite these challenges,
Elon Musk remains optimistic about Tesla’s future, emphasizing advancements in self-driving technology and automation.
While US electric vehicle demand has been softer recently, global growth in the sector remains strong, with significant proportions of sales in China and Europe expected to be electric this year.
Analysts believe Tesla is on a path towards recovery, with improvements noted in China and anticipation building for new growth initiatives, such as robotaxis.
Following this positive news, Tesla’s stock rose more than 6% in morning trading.
Credit : BBC
https://www.bbc.com/news/articles/c0dmvrxnk4jo