Tesla reports Q2 deliveries up 25% year over year to 480,126 vehicles

Tesla reported 480,126 vehicle deliveries in the second quarter of 2026, a 25% increase versus the same period a year earlier, as the company tries to rebuild momentum after a prolonged stretch of weaker demand. Tesla also said it produced 451,758 vehicles during the quarter, compared with 410,244 produced in Q2 2025. The deliveries figure is Tesla’s closest public proxy for sales, although the company does not define it as a strict accounting measure in the way traditional automakers report retail deliveries.

The quarterly numbers include Tesla’s scaled mix around its core models. Tesla said deliveries of its entry-level Model 3 sedan and Model Y sport-utility vehicles totaled 467,762, or 97% of all deliveries in the quarter, according to CNBC. That leaves the remainder of deliveries to Tesla’s other models, with Just Auto citing combined production for Model 3 and Model Y, and describing production and delivery performance for Tesla’s other model line separately.

Tesla’s Model 3 and Model Y output totaled 442,936 vehicles in the second quarter, which was up 11% from Q2 2025, Just Auto reported. Deliveries for the Model 3/Y pair rose 25% to 373,728 units. Just Auto also said Tesla produced 8,822 vehicles of its other models and delivered 12,364 units from that group, underscoring that deliveries exceeded production for that portion of the lineup.

Even with the year-over-year jump, Tesla’s stock declined after the report. CNBC reported that shares fell about 7.49% on Thursday, a move that capped what it described as the worst day in nearly a year, and followed declines after the previous three quarterly delivery reports.

Wall Street expectations were materially lower than Tesla’s reported results. CNBC cited a Tesla-compiled consensus of 406,024 deliveries and a StreetAccount average estimate of about 406,600, framing Tesla’s 480,126 deliveries as well above forecast. The gap suggests the quarter’s increase was not only a year-over-year improvement but also a beat relative to what analysts were modeling.

Outside the United States, Just Auto said analysts believe Tesla benefited from stronger demand for battery electric vehicles broadly, particularly in Europe, where fuel price pressures and fleet purchasing shifts may have helped. It also said that while Tesla faces intense competition from Chinese electric-vehicle makers such as BYD, there were “bright spots” for Tesla in China, pointing specifically to stronger sales of a revamped Model Y.

The broader context for Tesla is the market’s focus on whether deliveries can stabilize after multiple years of sliding unit growth. Analysts have increasingly tied Tesla’s trajectory not just to vehicle demand, but also to pricing, incentive levels, and how quickly the company can translate production into end-customer purchases. Deliveries, in that sense, function as a near-term gauge for those dynamics even though they do not by themselves explain profit trends.

Still, several important details were not disclosed in the delivery update coverage. Tesla does not break out exact delivery numbers by region in its standard delivery communications, and the reporting available here does not provide full segmentation by country, trims, or end-market customers. Investors looking for a clearer view of sustainability will likely focus next on what margin pressures look like and whether Tesla can keep improving deliveries without further trade-offs in pricing.