Tesla (TSLA) is expected to have tough quarter for deliveries again
Tesla (TSLA) is again expected to have a difficult quarter for electric vehicle deliveries as estimates are going down.
Last quarter was a rough one for Tesla. The automaker delivered 386,810 vehicles – down 20% quarter-over-quarter and 8.5% year-over-year.
Tesla is so important to the electric vehicle industry that the results dragged the entire EV sales down, especially in the US.
The automaker had some real problems that affected production, like the ramp-up of the new Model 3 at the Fremont factory and shutdowns due to supply chain issues at Gigafactory Berlin.
However, Tesla is also believed to have some demand issues, as these production issues can’t explain the entire 46,000-vehicle discrepancy between production and deliveries last quarter.
Now, the automaker is about to conclude its second quarter, and all eyes are on the upcoming results next week.
Tesla Q2 expectations
The Wall Street estimate consensus is at 450,000 deliveries, which is down from the 466,000 vehicles Tesla delivered during the same period last year.
That alone would be bad, but things could get worse.
Like last quarter, the estimates are expected to go down throughout the week as analysts adjust their expectations.
The more recent estimates from analysts are already significantly below the 450,000 consensus, which should bring it down by the end of the week.
Europe seems to be a problem for Tesla this year. According to registration trackers, Tesla is more than 60,000 deliveries off from its record year in 2023 so far in 2024:
With most of the difference happening over the last few months, Q2 could prove to make it a difficult quarter for Tesla in Europe.
China is still Tesla’s most important market and things are looking up there for the automaker over the last month – thanks to strong new incentives, like reduced interest rates.
Data is more opaque in the US. Tesla has also implemented incentives there, and more recently, the Model 3 Long Range getting access to the federal tax credit could have helped close the gap.
Electrek’s Take
We get a lot of news about EV sales crashing lately, but to be fair, it was mostly due to Tesla’s performance in Q1. The automaker is so critical to global EV sales, and especially US EV sales, that a bad quarter affects the entire industry.
It is disappointing to see that we are likely going to have another quarter down year-over-year in deliveries, especially considering that the automaker claimed to have a record number of vehicles in transit at the end of last quarter.
I would have thought that it would have easily helped Tesla beat last year’s 466,000 deliveries in Q2, but it doesn’t sound like it.
What do you think? Where do you think Tesla will land in terms of deliveries in Q2? Let us know in the comment section below.
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Tesla’s retro-futuristic diner with Superchargers and giant movie screens is ready to open, and I have to admit, it looks pretty sick.
This project has been in the works for a long time.
In 2018, Elon Musk said that Tesla planned to open an “old school drive-in, roller skates & rock restaurant at one of the new Tesla Supercharger locations in Los Angeles.” It was yet another “Is he joking?” kind of Elon Musk idea, but he wasn’t kidding.
A few months later, Tesla applied for building permits for “a restaurant and Supercharger station” at a location in Santa Monica. However, the project stalled for a long time, apparently due to local regulations.
Nevertheless, Tesla still moved forward with a Supercharger at the location, but it had to move the diner project to Hollywood. In 2022, Tesla filed the construction plans with the city, giving us the first look at what the automaker intends to build.
In 2023, the automaker broke ground on the site of the diner.
7 years after being originally announced, the project appears now ready to open:
Musk said that he ate at the diner last night and claimed that it is “one of the coolest spots in LA.” He didn’t say when it will open, but Tesla vehicles have been spotted at Supercharger and people appear to be testing the dinning experience inside.
A Tesla Optimus Robot can be seen inside the diner on a test rack. It looks like Tesla might use one for some tasks inside the diner.
Earlier this year, Tesla integrated the diner into its mobile app – hinting at some interaction through the app – possibly ordering from it.
Electrek’s Take
I think it looks pretty cool. I am a fan of the design and concept.
However, considering the state of the Tesla community, I don’t think I’d like the vibes. That said, it looks like Tesla isn’t prominently pushing its branding on the diner.
You can come and charge there, but it looks like Tesla is also aiming to get a wider clientele just for dining.
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Hyundai’s electric minivan is finally out in the open. The Staria EV was caught without camo near Hyundai’s R&D center in Korea, giving us a closer look at the electric minivan undisguised.
Hyundai’s electric minivan drops camo ahead of debut
The Staria arrived in 2021 as the successor to the Starex, Hyundai’s multi-purpose vehicle (MPV). Although the Staria has received several updates throughout the years, 2026 will be its biggest by far.
Hyundai will launch the Staria EV, its first electric minivan. Like the current model, the 2026 Staria will be available in several different configurations, including cargo, passenger, and even a camper version.
We’ve seen the Staria EV out in public a few times already. Last month, we got a glimpse of it while driving on public roads in Korea.
Despite the camouflage, new EV-like design elements were visible, including updated LED headlights and a full-length light bar. Although it’s still unclear, the electric version appears to be roughly the same size as the current Staria from the side, but slightly wider from the front.
New images posted on the South Korean forum Clien reveal a test car, expected to be Hyundai’s Staria electric minivan, without camo.
Like most Hyundai test cars, the prototype has a black front and a grey body. It still features a similar look to other prototypes we’ve seen, but you can clearly see the new facelift.
Earlier this year, a Staria EV was spotted in a parking lot in Korea, featuring a similar look. The electric version is nearly identical to the Staria Lounge, but with an added charge port and closed-off grille.
The Hyundai Staria EV is expected to make its global debut later this year. Technical details have yet to be revealed, but it’s expected to feature either a 76 kWh or 84 kWh battery, providing a range of around 350 km (217 miles) to 400 km (249 miles).
Hyundai’s electric SUV arrives after Kia introduced its first electric van, the PV5, which launched in Europe and Korea earlier this year.
In Europe, the Kia Passenger PV5 model is available with two battery pack options: 51.5 kWh and 71.2 kWh, providing WLTP ranges of 179 miles and 249 miles, respectively. The Cargo version has a WLTP range of 181 miles or 247 miles.
Source: TheKoreanCarBlog, Clien
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