Tesla’s shock Q2 shock delivery surprise may have been motivated by small unexpected markets, leaving Wall Street Perplexed
After Tesla amazed the market on Wednesday with quarterly sales which were far from being as bad as they are fearing, investors are made of the brain trying to determine where tens of thousands of cars suddenly appeared.
The panels indicate that small markets can serve as an exit valve, for example to unload cars built in the Tesla Berlin factory now that many neighboring European markets have actually closed the door to the brand due to reputation damage inflicted by CEO Elon Musk.
Wall Street therefore requests questions about the question of whether the sudden peak last month in deliveries could have come heavily from countries which are not otherwise known to be important sources of Tesla’s request. Almost 60% of all of Tesla’s first half sales in Türkiye was generated in June only.
“Deliveries superior to expectations can be welcomed,” UBS analysts wrote on Thursday in a research note, but there is “[questions] On the place where these vehicles have sold (probably not typical regions). »»
Turkey said 7,235 Tesla sales and 7.7% market share in June. Bev penetration reaches a new record of 27.4% and Tesla holds 28.2% of this segment. 🇹🇷
• The market share is 703 basic points or 1016% above the 3-month leakage average of 0.7%
• Tesla second best -selling brand
•… pic.twitter.com/0bduymimgp– Roland Pircher (@piloly) July 2, 2025
Between Turkey and Norway, Tesla has sold ten times more cars in these two countries than in Germany last month. It is despite the fact that total sales of passenger cars in the aforementioned duo, even when combined, are still only half the size of the latter.
This increase in the volume of improbable places helped consensus on the Tesla nail market on Wednesday with 384,000 cars delivered in the second quarter, which exploded the action by 5%. Many experts who follow the car markets closer than the equity analysts on the sale side, expected that the number is closer to 360,000 vehicles given a lack of fresh product.
Part of the reason why Tesla may surprise, however, lies in Tesla’s lack of transparency compared to other car manufacturers. He publishes deliveries once a quarter and provides only a distribution between volume – models of model 3 and combined – and luxury, in which he brings together the S, X and Cybertruck together.
Tesla did not respond to a request for Fortune for comment.
‘It’s just bananas’
The 7,235 vehicles sold in Türkiye last month made Tesla the third most popular brand after Renault and Volkswagen. By comparison, only 11,534 teslas were sold in the country throughout the last year, according to the local ODMD association.
In Norway adapted to electric vehicles, Tesla sold 5,646 vehicles in June despite the demand for cars in the Nordic country being 1 / 20th in the size of Germany. The Musk brand was so strong that it alone represented each third car sold in Norway last month.
“It’s just bananas,” said Erin Keating, cox car analyst Fortune.
This could be a sign that these markets serve as a dumping ground for cars built in the Berlin factory in Tesla now that European demand has dropped so much. In Germany, the largest automotive market on the continent by far, volumes for Tesla flowed 60% in June at 1860 vehicles and 58% over the first half.
Such an approach would make it difficult to maintain high volumes in a coherent manner, however, while smaller markets like Norway satiate more quickly. This means that Tesla could possibly be forced to stop production in Berlin due to the lack of demand.
In other more established markets such as the United States, the image is also dark.
“In the United States, we see them fallingly fall,” said Keating. “They continue to lose the share of quite aggressive and the only thing they have for them at the moment is that they are not also exposed to tariff risks because their cars are produced by the Americans.”
