Tesla’s Q2 Deliveries Were Not as Bad as Feared. Does That Mean You Should Buy TSLA Stock?

Tesla (TSLA) released its Q2 deliveries and production numbers on Wednesday, July 2. The deliveries, which closely approximate vehicle sales fell 13.5% year-over-year. The decline was higher than the 13% fall in Q1 and was the worst ever for the company.

Tesla’s Q2 deliveries came in at 384,122, which, while below the consensus estimate of 387,000, was better than what many were expecting. For instance, Troy Teslike, who claims to have an average error rate of just 3% in the preceding 12 quarters, put his final estimate at 356,000 on July 1.