What's going on?

Tesla announced over the weekend that it delivered far fewer cars than analysts were expecting last quarter.

What does this mean?

You might�ve been so wrapped up in Elon and Twitter�s will they, won�t they that you forgot about Tesla, the billionaire�s other little venture. Let�s catch you up: a shortage of parts and the pandemic-linked shutdown of the company�s Shanghai plant � which produced around half its total output last year � limited the number of EVs it could deliver last quarter. And sure, it still shipped nearly 255,000 of them � 27% more than it did the same time last year. But that was well below estimates, which analysts had already revised down in light of China�s lockdowns. Tesla has now delivered 564,000 this year, but it�ll need to get cracking if it has any hope of meeting its full-year target of 1.5 million. Challenge accepted: June saw Tesla produce the most EVs it�s ever produced in a single month.

Why should I care?

The bigger picture: What goes up�
Bank of America is expecting annual EV sales in the US to hit 3.2 million by 2025, up from 400,000 last year. But it also thinks Tesla�s position as the US market leader is finally under threat. The bank suspects a barrage of new EV releases from other carmakers means Tesla�s market share will dwindle from 70% today to 11% by 2025, and that GM and Ford will lead the US market with 15% each (tweet this).

For you personally: Tesla isn�t just an EV maker.
Tesla’s stock might�ve lost $350 billion in market value this year, but it�s still outperformed both of the aforementioned rivals. That might be because its exposure to cutting-edge tech � like robotics and more efficient solar roof tiles � means investors are buying into more than just EVs. And since some analysts think its stock will be 50% higher in 12 months� time, its recent dropoff might make now prime time to buy in yourself.