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STORY: Tesla reported a sharper-than-expected fall in second-quarter deliveries on Wednesday (July 2).
The electric vehicle giant has faced intense competition and backlash against CEO Elon Musk’s political stance.
Both factors have hit global demand for its aging electric-vehicle lineup.
The automaker said it delivered more than 384,100 vehicles in the second quarter.
That’s down 13.5% from a year ago and below analyst forecasts.
The plummeting deliveries comes despite Musk saying in April that sales had turned around.
Tesla refreshed its top-selling Model Y crossover earlier this year to boost demand.
But the redesign forced a production halt and led some buyers to delay purchases as they waited for the updated version.
Most of Tesla’s revenue and profit comes from its core EV business.
Much of its trillion-dollar valuation hangs on Musk’s big bet on turning its vehicles into robotaxis.
Tesla rolled out a robotaxi service in limited parts of Austin, Texas last month.
It was for a select group of invitees and came with several restrictions, including having a safety monitor in the front passenger seat.
Its shares have shed more than a quarter this year, but rose 3% Wednesday as the latest update proved less severe than the bleakest analyst projections.