Tesla has reported a significant surge in car sales for the second consecutive quarter, signaling a potential recovery from previous boycotts and intense competition.
The electric vehicle maker, led by Elon Musk, announced Thursday that it delivered 480,126 vehicles in the past three months, a substantial increase from the 384,122 units sold during the same period last year.
This figure comfortably surpassed analysts' expectations of 401,000 deliveries, according to FactSet estimates. The rebound suggests that European consumers, who had previously expressed anger over Musk's embrace of far-right political candidates, are once again purchasing the company's vehicles.
While Tesla did not provide a regional breakdown of its sales, earlier reports from European trade groups indicated robust growth across the continent. Notably, Germany saw a remarkable 300 percent rise in Tesla sales in May. The company is banking on its more affordable Model Y and Model 3 vehicles, introduced last year, to sustain this momentum.
Further growth is anticipated as more European nations approve the use of Tesla's "Full Self-Driving (Supervised)" driver-assistance feature, which is already available in the U.S. The Netherlands has approved the system, with Estonia, Greece, and Lithuania following suit.
Last year, Tesla faced considerable backlash, including protests at showrooms in Europe and the U.S., an effigy of Musk being burned in Milan, and acts of vandalism against Tesla drivers.
As sales plummeted, Musk strategically shifted the company's public narrative, emphasizing the development of robots, automated driving systems, and self-driving robotaxis over traditional car sales.
Investors appear to approve of this direction, with Tesla's stock price fully recovering from an early-year dip and rocketing more than 40 percent over the past 12 months.
