Tesla (TSLA) is expected to report a 3.7% decline in deliveries for the June quarter, marking its second consecutive quarterly drop amid tough competition in China and sluggish demand for new affordable models, Reuters reported on Monday.
Tesla will deliver 438,019 vehicles from April to June, according to the report, citing an average estimate from 12 analysts polled by LSEG, with Barclays predicting an 11% decline in second-quarter deliveries.
Barclays analyst Dan Levy told Reuters “a soft delivery result could turn attention back to the currently challenging fundamental environment for Tesla”.
The EV maker, which is expected to announce the results on Tuesday, lost a quarter of its stock value this year, making it one of the worst performers on the S&P 500, Reuters said.