Tesla beats delivery estimates on Europe, China sales

Key Facts

Amid fierce competition in the EV market, Tesla surpassed delivery estimates thanks to improved sales in Europe and China, according to media reports. The positive performance comes as investors closely watch the company's ability to sustain demand momentum in its key markets.

The news coincides with upbeat economic data for the eurozone, where new car sales rose 3.2% year-over-year in May, beating the consensus of 2.8%, per market data. Meanwhile, China's foreign direct investment data showed a slight improvement to -8.6% against expectations of -11%.

Tesla shares closed at $379.71 on June 26, recovering from a weekly low of $368.6, with the near-term high of $387.8 remaining a key level. The market awaits further updates on production plans and expansion into new markets, especially amid ongoing competition from Chinese and European rivals.