What Tesla’s delivery numbers mean for the future of the company

Tesla reported it’s second straight year-over-year drop.

Transcript

00:00Q2 delivery numbers came in roughly in line with expectations but quite a bit better than some of

00:05the whisper numbers. Still a decline but what's your reaction? So I think that the market's telling

00:10you that these numbers represent what the company Tesla was now what's becoming. It's not an EV

00:15company anymore so clearly these numbers was a slight miss but it was better than feared because

00:20I think the lowest estimates around 350,000 they came in 384. The street wanted 389. So I think

00:26that it was better than feared and I think that having an effect on what the company was is pretty

00:32minimal for what's trying to become because it's trying to become the operating system of physical

00:37AI through humanoids, through autonomy. If that vision comes to a reality we're not going to worry

00:44about a couple hundred thousand delivery numbers anymore. It's going to be something about the

00:48early disruptors of this multi-trillion dollar TAM. But the reality is it still is an EV company right

00:56now and the delivery numbers although maybe better than feared still represented a 13.5% decline from

01:03the year ago period. There's still weakness in China. They're losing market share in Europe.

01:08They're dealing with brand and reputational damage following Elon Musk's participation in Doge. How

01:15concerning is any of that to you? I think the stock price is reflecting all those concerns because

01:20how many stocks out there that are as disruptive as what Tesla is trying to accomplish are stuck in

01:25the same stock price from four years ago? Not many. So I think that this massive multi-year range bound

01:31trading reflects the digestion period of that narrative change from an EV company to a full-on

01:37physical AI disruptor. And I think that nobody really knows the timeline on when that narrative change is

01:43going to be a reality. But Elon has a great track record and I do believe that the optimist autonomy

01:51is an inevitability. Timing is a little iffy but hopefully I was actually initially hoping that there

01:57would be some federal push. That's not the case clear with this junior high fight that we're seeing

02:01between Tesla, between Elon and Trump. But I think it was good enough numbers. And so they continue

02:09riding that momentum from a couple weeks ago in Austin. They continue just delivering on

02:13snowballing that momentum. I think they're going to be a really big disruptor in the next couple years.