Tesla Sold 25% More Cars In Q2. Its Operating Profit Still Plummeted

Tesla’s record deliveries and revenue couldn’t stop operating profit from falling sharply.

Tesla earned less per vehicle as margins shrank and regulatory credit revenue plunged.

Its car business is recovering, but Tesla is spending heavily on AI, robotaxis and Optimus.

Tesla delivered considerably more cars in the second quarter of 2026 than it did during the same period last year, generating record revenue. However, it was not enough to stop its operating income from collapsing in Q2.

Its Q2 Deliveries (April through June) totaled 480,126 vehicles, up roughly 25% from the same period last year. The Model 3 and Model Y accounted for 467,762 of those deliveries, while Tesla’s remaining models (Model S, Model X, which have been discontinued, and Cybertruck) contributed just 12,364. It was the company’s highest-ever quarterly delivery total.