Tesla Q2 Deliveries Jump 25% Even as the Broader US EV Market Shrinks

Tesla delivered 480,126 vehicles in the second quarter, a 25% jump from a year earlier and well ahead of Wall Street's expectations, even as the broader US electric vehicle market contracted by roughly 22% over the same stretch.

The divergence pushed Tesla's share of the US EV market to 50.5% for the first half of the year, with the Model Y remaining the country's best-selling EV at more than 163,000 units sold, up 8% year over year. The company's growth came despite the expiration of federal EV tax credits earlier in the year, a change that has broadly cooled demand for fully electric vehicles as more buyers shift toward hybrids instead.

Tesla has said it plans to spend more than $25 billion on capital expenditures in 2026, nearly triple what it invested the previous year, directed toward expanding AI computing infrastructure, battery production, and manufacturing capacity for upcoming vehicle programs.

The results offered a rare bright spot for the EV sector at a moment when several competitors have scaled back production plans in response to softer demand following the tax credit expiration.