--- title: "Tesla’s No-Good 2024 Expected to Get Worse With Q2 Results" date: "2024-07-01" modified: "2024-07-01" authors: - name: "Adam Ismail" job_title: "Senior Editor" link: "https://www.thedrive.com/authors/adam-ismail" url: "https://www.thedrive.com/news/tech/teslas-no-good-2024-expected-to-get-worse-with-q2-results" categories: - "Car Tech" - "Electric Vehicles" - "News" - "News by Brand" - "Tesla News" tags: - "Electric Vehicle" - "sedan" - "suv/crossover" - "Tesla" --- # Tesla’s No-Good 2024 Expected to Get Worse With Q2 Results ![A Tesla Model Y charges at a Supercharger in California.]() *\Justin Sullivan/Getty Images\* Earlier this year [Tesla]() reported a decline in deliveries for the first quarter of 2024, the first time that had happened since the onset of the global pandemic in 2020. Analysts suggested that this could be a wake-up call for the EV maker, beset by fading demand for its antiquated product lineup and [sweeping layoffs](). Nevertheless, shareholders chose overwhelmingly to reward CEO Elon Musk for this performance, voting in favor of a $56 billion pay package. Tomorrow, Tesla's set to report its second-quarter results, and Wall Street does not anticipate it will be a step in the right direction. In fact, the company is likely to call a second consecutive quarter of declining deliveries, per multiple outlets. The exact percentage drop year-over-year isn't known yet—*[Bloomberg]()* is projecting a 5.4% decrease, whereas *[Reuters]()* estimates a 3.7% fall and Barclays, a staggering 11%. No matter the quantity, if Tesla does post another step backward this week, it'll be the firm's first consecutive quarters of lagging deliveries since 2012, when the Tesla Roadster was exiting production. This time last July, Tesla said it delivered 466,000 of 480,000 built vehicles in the quarter. FactSet puts the number at 436,000 vehicles this go around via *[Quartz]()*, and that's already a 14,000-unit drop from what Wall Street expected just a week ago, and roughly 28,000 shy of estimates even before that. Meanwhile, Tesla stock is down a full quarter through 2024. Trouble is, there's really no silver lining Musk appears to be able to highlight at the moment, to assuage shareholders that relief is around the corner. Sure, Tesla still has plenty of [Cybertruck]() reservations to move through from its most fervent customers. But beyond that, [the $25,000 "Model 2" is dead]() in the water, the brand's existing lineup is far too old in the face of highly competitive alternatives from "legacy" automakers as well as upstarts like [Rivian](), and public enthusiasm for electric cars on the whole has plateaued. Couple all that with Tesla's newest, most highly anticipated product being recalled every month for the most [pathetic]() and [alarming]() of reasons—as it tries to ramp up manufacturing, no less—and you have the makings of a dismal period for America's EV darling. (We haven't even discussed what's going on in China yet.) Tesla is expected to announce its quarterly earnings tomorrow, July 2. *Got tips? Send ’em to tips@thedrive.com* ## Author Adam is a Senior Editor at The Drive, concentrating on curating and developing the site's slate of daily journalism, from initial pitch to final copy edit. When he's not at his desk researching leads and working with writers, he's testing vehicles or reviewing racing games, new and old. He joined The Drive in 2023, following seven years of covering consumer technology and cars. A car lover and gamer since his earliest memories, Adam came to know the automotive world through video games. First it was Daytona USA, Sega Rally, and Ridge Racer; then came Need For Speed, which inspired an encyclopedic knowledge of '90s supercars, and, of course, Gran Turismo. If not for them, he'd assuredly be doing something else right now. Adam is based in the suburbs outside Philly, where there are ample roads for his hot hatch to stretch its legs. In his car, he's probably listening to indie rock, drum and bass, or Yankees baseball. ### Author social links [Bluesky]() [Instagram]() [LinkedIn]()