Chinese Tesla Suppliers Rise as Stock Drops 7.5% on Record Deliveries

Tesla shares fell 7.5% on July 2 despite record Q2 deliveries of 480,126 vehicles that beat consensus estimates of 406,600 by a wide margin. The sell-the-news reaction followed an 8% pre-report rally driven by FSD optimism, with investors now shifting focus to robotaxi and robotics prospects ahead of full earnings on July 22. On July 3, Chinese suppliers including Ningbo Xusheng and CATL gained 5-9% as the strong delivery print signaled stabilizing demand in China and Europe, highlighting the decoupling between Tesla’s operational results and its equity valuation.