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Tesla’s global sales fell for the second straight quarter despite price cuts and low-interest financing offers, another sign of weakening demand for the company’s products and electric vehicles overall.
The Austin, Texas, company said Tuesday that it sold 443,956 vehicles from April through June, down 4.8% from 466,140 sold the same period a year ago. But the sales were better than the 436,000 that analysts had expected.
The better-than-expected deliveries pushed Tesla’s stock up 10% Tuesday. The stock is down about 7% so far this year, but it has nearly erased larger losses from prior months. Tesla shares had been down more than 40% earlier in the year, but are up more than 60% since hitting a 52-week low in April.
Demand for EVs worldwide is slowing, but they’re still growing for most automakers. Tesla, with an aging model lineup and relatively high average selling prices, has struggled more than other manufacturers. Still it retained the title of the world’s top-selling electric vehicle maker.
