Tesla significantly exceeded Wall Street forecasts for delivery volumes in the second quarter, setting a record for the period, as a recovery in demand in Europe outweighed continued weakness in the North American market. Reuters reports, writes UNN.
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These high figures indicate that Tesla's core business, automobile manufacturing, is regaining momentum after two consecutive years of declining annual sales, providing a financial safety cushion.
It is necessary for the realization of the company's ambitions in the field of autonomous driving and artificial intelligence – the main factors determining the company's market capitalization at approximately $1.6 trillion.
Tesla plans to spend over $25 billion on capital investments in 2026 – almost three times more than the $8.5 billion last year – to expand artificial intelligence infrastructure, battery production, and the production of the Cybercab and Optimus robots.
Tesla's recovery in Europe was aided by government incentives for electric vehicles, accelerated electrification of corporate fleets, higher fuel prices, and a weakening of the negative consumer reaction to CEO Elon Musk's far-right political views last year.
According to Visible Alpha, in April–June the company delivered 480,126 vehicles, a record for the second quarter and 25% more than a year earlier, easily surpassing the average analyst forecast of 402,776 vehicles.
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