Tesla Delivered 480K EVs in the Spring. Did That Beat Expectations?

Tesla reported delivering 480,000 EVs globally in the second quarter of 2026, but the market response was negative. In a sales report released April 2, Tesla said deliveries rose 34% quarter-on-quarter from 358,023 vehicles in Q1 2026, and also increased versus 384,122 in spring 2025. The company also stated that it produced over 450,000 vehicles during the quarter, delivered more than 480,000, and deployed 13.5 GWh of energy storage products. Tesla added that the Model 3 and Model Y were its best-selling cars in the quarter, with 467,762 combined units, while other models totaled 12,364. Expectations had called for 114,629 sales in the U.S. for Q2 2026, according to Cox Automotive, but Tesla did not break out domestic deliveries. Shares fell about 3% to near $412 per share on NASDAQ after trading opened Thursday, July 2, after being around $375 a week earlier.