What You Need To Know Ahead of Tesla Earnings Next Week

Key Metric: Deliveries

Tesla's better-than-expected Q2 transportation numbers helped to spark a substantial rally for nan EV maker's stock.

While deliveries were little than past year's 2nd quarter, nan figures underscored a beardown 4th for overmuch fo nan EV market. Deliveries from EV startup Rivian (RIVN) rose, while immoderate of Tesla's competitors successful China person reported affirmative income data successful caller weeks.

Legacy automakers for illustration General Motors (GM) and Ford (F) besides posted affirmative EV income figures, pinch their second-quarter EV income increasing 40% and 61%, respectively.

Business Spotlight: Robotaxi Event Delay

Musk connected Monday partially confirmed a Bloomberg study from past week that said Tesla's robotaxi arena had been delayed to October from Aug. 8 truthful much prototypes could beryllium produced. Musk said nan hold was owed to a creation alteration he had requested, and said nan other clip could let Tesla to showcase "a fewer different things" astatine nan event.

Baird analysts wrote Tuesday that caller versions of Tesla's self-driving platforms could beryllium 1 of nan "few different things" Musk was referring to, on pinch a lower-cost model. In nan company's latest net call successful April, Musk said Tesla planned to commencement accumulation connected "more affordable" models precocious this twelvemonth aliases successful early 2025.

Tesla shares are successful nan midst of a rally that has allowed nan EV maker's banal to erase nan losses suffered successful nan first half of nan year, pinch nan banal rising successful each but 1 of nan past 15 trading sessions. The shares closed 1.6% higher Tuesday astatine $256.56.