Driving the news: Tesla $TSLA ( ▲ 4.97% ) delivered 384,122 vehicles in Q2, marking a 14% decline from last year and the second straight quarterly drop in deliveries.
For context: The numbers came in slightly below Wall Street expectations of around 387,000 deliveries, following a 13% decline in Q1 that delivered 336,681 vehicles.
Tesla produced 410,244 vehicles during the quarter, with the vast majority (396,835) being Model 3 and Model Y vehicles.
The company also delivered 10,394 "other models" including the troubled Cybertruck, which has been recalled eight times since shipping began.
Why it matters: Tesla is losing ground to global competitors, especially Chinese EV makers offering newer and cheaper models. But the company also faces a unique challenge with CEO Elon Musk's political controversies creating backlash against the brand. His feud with Trump has escalated recently, with Musk attacking the president's spending package and calling for a third political party.
What we're watching: Despite the declining deliveries, Tesla shares jumped 5% after the announcement, though they're still down 26% for the year.
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