More: Tesla Sales Crash Deepens As Rivals Eat Into Market Share Given the declines, it’s not surprising the company’s total gross profit fell 15% to $3.9 billion. The Adjusted EBITDA also dropped 7% to $3.4 billion. Tesla blamed the disappointing results on a combination of factors including a decline in vehicle deliveries as well as lower revenues from regulatory credits. On top of that, the average vehicle selling price has dropped and there is increased competition. Digging deeper, Model 3/Y deliveries dropped 12% to 373,728 units in Q2. The Cybertruck also continues to bomb as Tesla only reported 10,394 “other” deliveries. That’s a drop of 52% and the number also includes deliveries of the Model S and Model X. Tesla tried to put a positive spin on things by saying, “Our entire model lineup is better than ever with recent updates.” The automaker added they “continue to make progress preparing for the launch of additional models this year.” Speaking of future models, the long overdue Roadster was revealed to be in the “design development” phase. This suggests the car isn’t coming anytime soon. Tesla also touched on their recently launched robotaxi service in Austin, saying they’re working to “further improve and expand” the ride-hailing program. The automaker added they’re eyeing additional launches in other U.S. cities and their efforts aren’t “location-specific,” which will allow them to “scale to other cities quickly with marginal investment.” On the charging side of things, Tesla added 904 Supercharger stations in the past year. This is good news as other automakers have been gaining access to the network, which in turn, has made it more profitable. TAGS