Investors were increasingly anticipating a bad number, given several recent reports of sales weakness in Europe and China. To add to the anxiety, Tesla Chief Executive Elon Musk renewed his feud with President Donald Trump this week by criticizing the budget bill that barely passed the Senate.

Tesla reported 384,122 vehicle deliveries in the second quarter of 2025, down 14% from the same period last year.

Tesla shares rose 3% shortly after markets opened Wednesday even though the electric vehicle maker reported worse-than-expected second-quarter deliveries and production figures.