In the early morning news of July 26, Beijing time, Tesla's shares fell 13.61% to $228.82 at the close of Thursday, the biggest one-day decline since this year, with market value evaporating more than $6.2 billion (about 43.1 billion yuan). Tesla's share price has fallen more than 30% since the beginning of the year.



This is the biggest drop in the company's share price since September 28, 2018, when it fell 13.9%. At one point, the stock fell more than 14%, the biggest drop since 2013.



On July 25, Beijing time, Tesla released the second quarter of this year. The performance was not up to expectations. Tesla's second-quarter sales hit a record, but it still failed to make a profit, with a net loss of $408 million attributable to common shareholders, according to the report. Meanwhile, Tesla co-founder and CTO will leave.

Tesla posted an adjusted loss of $1.12 per share in the second quarter, while analysts expected an average of 40 cents. Revenue grew 59% to $6.35 billion, but was lower than analysts'average forecast of $6.41 billion.



The company said its most popular Model 3 models produced 7,000 vehicles a week and planned to produce 10,000 models a week by the end of 2019. But costs associated with sales and services are also rising sharply, putting pressure on profitability. Gross margin fell to 14.5% from 15.5% a year ago.



Although the company failed to meet expectations, it reiterated its annual delivery guidance, saying it still expects to sell 360,000 to 400,000 vehicles this year, most of them Model 3. In the first half of 2019, Tesla delivered about 158,200 cars to customers. To reach the low end of the guidelines, Tesla had to deliver more than 200,000 cars in the second half of the year.



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