Tesla Hits 3 Million Model 3 Sales Even As Market Braces For Soft Q2 Earnings
Synopsis
Tesla is also preparing to launch a six-seater Model Y variant in China and has rolled out performance upgrades to stay competitive amid rising local EV pressure and softening demand.
Tesla said Monday it has sold more than 3 million Model 3 sedans globally since the car’s debut in 2017.
The milestone comes ahead of the company’s second-quarter earnings, due to be released on Wednesday after the market closes, with Wall Street expecting weaker numbers this time.
Tesla delivered 48,803 Model 3s in the June quarter, which was well below the Model Y's production of 86,120. The electric-car maker delivered 384,122 vehicles in the second quarter, down 13.5% from the same quarter last year. Sales have fallen in two consecutive quarters.
Earnings are expected to be weak as well, with analysts forecasting $0.41 per share and revenue declining to $22.36 billion from $25.5 billion a year earlier.
The Model 3 milestone also comes just after reports that Tesla is gearing up to launch a new six-seater version of its Model Y Long Range, called the Model Y L, in China.
A government filing revealed a longer 3,040 mm wheelbase, with the company hinting at a fall release. The configuration, aimed at Chinese families, is expected to offer more space in the third row and will likely be built in Tesla’s Shanghai factory.
To stay competitive in China, Tesla also rolled out performance upgrades earlier this month.
The Model 3 Long Range AWD now comes with the acceleration boost package by default, reducing the 0–100 km/h time to 3.8 seconds and increasing the range to 753 km. Pricing rose to 285,500 yuan.
Meanwhile, the Model Y Long Range now offers a 750 km range with no price increase. Delivery wait times for both vehicles have shortened to one to three weeks.
On Stocktwits, retail sentiment for Tesla was ‘neutral’ amid ‘low’ message volume.
Tesla’s stock has declined 13.1% so far in 2025.
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