PRISM Industry Insights: Have EV Sales Hit Rock Bottom? Tesla’s Resilience Sparks Broader Sector Moves

New York, New York, July 3, 2025 – Tesla (TSLA) stock rallied 5% yesterday despite posting another sales slump that came in below analyst’s expectations suggesting that some investors may believe that the worst of the EV sales decline is behind us.

Tesla delivered 384,122 vehicles in the second quarter, a 13% decline from a year earlier but less severe than the 20%+ drop some analysts anticipated. The result pushed Tesla shares up 5% today, with the stock still down about 20% year-to-date. Analysts remain cautious, noting the absence of Tesla’s long-promised affordable model and increasing competition from China’s BYD and Xiaomi. Yet, the market’s reaction suggests renewed hope that vehicle sales may have bottomed out.

Recent PRISM Emerging EV News

Not all EV players are basking in optimism. Rivian (RIVN) reported a second-quarter delivery drop of 22.7%, producing just 5,979 vehicles against expectations of over 11,000. The company is navigating the effects of steep U.S. tariffs and high borrowing costs, alongside prepping for its refreshed 2026 R1T and R1S models. Despite headwinds, Rivian is holding its full-year delivery forecast and banking on the launch of its more affordable R2 SUV next year to revive momentum.

Meanwhile, ChargePoint (CHPT) is doubling down on infrastructure with the launch of its Flex Plus charger in Europe, targeting company car fleets, which represent 60% of new car sales in the region. The charger integrates with ChargePoint’s Driver Management Solution to streamline home charging reimbursement, public charging access, and fleet-wide visibility. Smart home integration, portability, and dynamic load management aim to reduce fleet costs and increase adoption, key steps in keeping the EV rollout alive in a cooling market.

QuantumScape (QS) also made a significant move, achieving a 2025 production milestone with its Cobra separator process now embedded in baseline solid-state cell manufacturing. With a 25x improvement in heat treatment speed and a more compact equipment footprint, this advancement edges QS closer to scaling up next-generation battery tech for commercial use.

While broader EV demand is still under pressure from economic and policy uncertainty such as the potential end of EV tax credits in the U.S., the sector is showing signs of resilience today with Tesla leading the charge.

Source: PRISM MarketView

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