World News | Tesla Sales Fall for Second Straight Quarter Despite Price Cuts, but Beat Analyst Expectations

Detroit, Jul 2 (AP) Tesla's global sales fell for the second straight quarter despite price cuts and low-interest financing offers, another sign of weakening demand for the company's products and electric vehicles overall.

The Austin, Texas, company said Tuesday that it sold 436,956 vehicles from April through June, down 4.8 per cent from 466,140 sold the same period a year ago. But the sales were better than the 436,000 that analysts had expected.

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Demand for EVs worldwide is slowing, but still growing for most automakers. Tesla, with an aging model lineup and relatively high average selling prices, has struggled more than other manufacturers but still is likely to remain the EV leader in the US and across the world.

Tesla's sales decline comes as competition is increasing from legacy and startup automakers, which are trying to nibble away at Tesla's market share. Most other automakers will report US sales figures later Tuesday. (AP)

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)