Tesla’s China-made EV sales extend growth streak, but momentum fades

Tesla plans to host an event for its Cybercab robotaxi in Austin, Texas, on Thursday. The vehicle, unveiled two years ago, is designed for autonomy and lacks a steering wheel. CEO Elon Musk has stated it will eventually be priced at $30,000. Tesla has begun production and testing but has not confirmed regulatory approval or event details.

Tesla (TSLA) reported Q2 FY2026 revenue of $28.24B, up 25.5% YOY, but adjusted EPS fell 17.5% to $0.33. Operating margin dropped to 1.4% due to rising costs. Analysts expect Q3 EPS to decline 29.7% YOY. TSLA trades at 196.74x forward P/E and 12.99x sales. Analysts have a 'Moderate Buy' rating with an average price target of $397.60.

Tesla raised Cybertruck prices by $5,000 for two models, aiming to boost revenue per vehicle. The company delivered 480,126 vehicles in Q2, beating production. Analysts expect Q3 EPS of $0.26, down 30% YoY. RBC and BofA maintain bullish views with price targets of $500 and $460, respectively.

Tesla reported its supervised self-driving tech had 4.1 times fewer collisions than manually driven Teslas in five European countries, based on 100M km of data. The company seeks EU-wide approval, with a vote possibly in October. Critics question the data's validity and transparency.

Tesla confirmed its Full Self-Driving system was active during a crash in Batavia, Illinois, that killed a passenger. The crash involved a Tesla Model Y and a pickup truck. Tesla reported the incident to regulators, but redacted key details. The investigation is ongoing, and no charges have been filed. According to Electrek, the crash involved a left turn, a maneuver typically handled by Full Self-Driving, not basic Autopilot.

Einride plans to deploy 75 Tesla Semi trucks in 2026 and 500 by 2027. Tesla's shares rose 5.51% to $367.95 before falling 1.74% in pre-market trading. The order supports Tesla's commercial Semi fleet adoption and expands its heavy-duty EV pipeline.