Tesla Stock Jumps Despite Q2 Delivery, Production Declines

Tesla (TSLA) shares jumped nearly 6% in premarket trading Wednesday even though the electric vehicle maker reported worse-than-expected second-quarter deliveries and production figures.

Tesla announced 384,122 deliveries, down 14% year-over-year, and 410,244 vehicles produced, down by roughly 600 vehicles. Analysts had expected 394,380 deliveries and 434,230 vehicles produced, per estimates compiled by Visible Alpha.

Several analysts recently said they expected Tesla’s Q2 deliveries and production figures to fall short of estimates as the “brand damage” of CEO Elon Musk’s work with the Trump administration has persisted since Musk left Washington. Deliveries fell short of estimates last quarter as Musk’s political activity made Tesla the subject of protests that hampered demand.

However, some analysts said more investor focus is likely being shifted to the rollout of Tesla’s robotaxi program, which started at a small scale in Austin, Texas, just over a week ago.

Tesla also said Wednesday that it will post its financial results for the quarter after the closing bell on July 23.

Shares entered the day down more than 25% since the start of the year, including a 5% drop yesterday as Musk and Trump publicly sparred again over Trump’s “One Big Beautiful Bill” working its way through Congress. Options pricing suggests traders see shares moving about another 5% in either direction by the end of the holiday-shortened trading week following the data.