Tesla's sales slumped for the 2nd quarter in a row, but things weren't as bad as investors feared

Tue, 07/02/2024 - 10:23

Elon Musk standing against a backdrop that says Breakthrough Prize at a Breakthrough Prize ceremony — Tesla has sought to increase its sales with financing offers and reduced prices.
Kevin Winter/Getty Images

Tesla sales were down nearly 5% in the second quarter.
The performance wasn't as bad as analysts had expected.
Tesla's stock rose more than 8% following the news.

Tesla's sales fell for the second straight quarter, down nearly 5% compared with the same period a year ago.

While the decline in deliveries is yet another sign that an industrywide electric-vehicle slowdown is finally affecting Elon Musk's Tesla, Tuesday's numbers were not as bad as some analysts had expected, sending the stock up more than 8%.