Tesla's Q2 Sales Down 13.5%, Largest Year-Over-Year Drop in Company History

Tesla's Q2 sales dropped 13.5% to 384,122 cars, the largest year-over-year decline in its history. Despite a 14.1% increase from Q1, the company faces increased competition from Chinese manufacturers and legacy Western automakers. BYD is poised to surpass Tesla as the world's largest EV maker based on annual sales, having sold over 1 million EVs in the first half of the year. Analysts attribute the decline to the lack of a more affordable product offering and high-profile political activity from CEO Elon Musk.