Tesla · Elon Musk · Wall Street · U.S. · The Guardian Technology
Earlier in the day, smaller rival Rivian raised its annual deliveries forecast and beat estimates for second-quarter deliveries
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Tesla has continued to roll out its “full self-driving” (FSD) advanced driver assistance software in Europe, although it is only available in a handful of countries.
Key facts
- Tesla expects to spend more than $25bn on capital expenditure in 2026, nearly triple the $8.5bn last year, to expand AI infrastructure, battery production, Cybercab manufacturing and Optimus robots
- The company delivered 480,126 vehicles in the April to June period, a record for the second quarter and up about 25% from a year earlier, easily surpassing analysts’ average estimate of 402,776
- The strong figures suggest Tesla’s mainstay auto business is regaining momentum after two straight annual sales declines, providing the spending cushion needed to power its ambitions in autonomous
- Tesla’s recovery in Europe was aided by government EV incentives, faster electrification of corporate fleets, higher fuel prices and an easing of the consumer backlash over CEO Elon Musk’s far-right
Summary
Tesla blew past Wall Street estimates for second-quarter deliveries on Thursday, posting a record for the period as recovering demand in Europe outweighed persistent weakness in North America. The strong figures suggest Tesla’s mainstay auto business is regaining momentum after two straight annual sales declines, providing the spending cushion needed to power its ambitions in autonomous driving and artificial intelligence, the main drivers of the company’s roughly $1.6tn valuation. Tesla expects to spend more than $25bn on capital expenditure in 2026, nearly triple the $8.5bn last year, to expand AI infrastructure, battery production, Cybercab manufacturing and Optimus robots. “The reporter thinks the huge growth in Europe is the key driver for Tesla right now. Tesla’s recovery in Europe was aided by government EV incentives, faster electrification of corporate fleets, higher fuel prices and an easing of the consumer backlash over CEO Elon Musk’s far-right politics last year.