Quick Read – Tesla crushed Q2 delivery estimates with 480,126 vehicles but TSLA shares fell 7%, while Nio’s 49% YoY delivery growth couldn’t prevent NIO stock’s moderate decline. – Tesla’s 421x P/E and expiring federal EV tax credits give the bears reasons to sell even as…
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Shares of Tesla (NASDAQ:TSLA) are down 7% in morning trading to $395.86, even after the electric vehicle (EV) maker posted a blowout Q2 2026 delivery report that easily cleared Wall Street expectations. It’s a textbook sell-the-news reaction after a hot pre-report run. Nio (NYSE:NIO) stock is slipping alongside it, down 2% to $4.87 after Nio’s own June and Q2 2026 delivery update.
Both EV names are surrendering ground despite operationally strong quarters, a reminder that expectations often matter more than headline numbers in this group. Blowout Q2 Delivery Numbers Tesla delivered 480,126 vehicles in Q2 2026, up 25% year over year (YoY) and well ahead of the consensus estimate near 406,600 units. The result reverses the delivery slide Tesla investors watched throughout 2025.