Tesla Stock Sees Modest Gain in China Sales Amid Q2 Delivery Weakness

Tesla's China-made electric vehicle sales rose 0.8% YoY in June, snapping an 8-month losing streak in the market. Despite the increase, the company's Q2 deliveries were down 14% YoY, reinforcing concerns about market share loss to Chinese rivals. Tesla needs to launch a lower-cost model, get regulatory approval for its robotaxi, and rebrand itself to recover sustainably. Wall Street firms have downgraded Tesla's rating to "hold" only.