Tesla (TSLA) posted its vehicle production and deliveries for the second quarter, and its shares rose by 8 percent in pre-trading this morning. The delivery numbers beat analysts’ expectations.

However, the numbers are down by 4. 8 percent from a year earlier, indicating a slowdown in sales. The electric car maker will report second-quarter earnings later in July.

On Tuesday, Tesla said that it had delivered 443,956 vehicles. This was better than Wall Street analyst’s estimates that 439,302 vehicles would be delivered in the second quarter. Although sales have been down by almost 5 percent compared to a year earlier, the carmaker improved sequentially.

Tesla reported that its second-quarter production was 410,831 vehicles, a 14 percent decrease from quarter two a year ago. The company will report earnings on July 23, when more details on sales, earnings, and revenues should emerge.

Tesla has faced a challenging year. In April, the company announced huge job cuts and reportedly decreased its number of employees by 20 percent.

Many of the company’s salespeople lost their jobs, and this might be reflected in the sales results expected later this month.

Tesla’s only new model in years is the Cybertruck. It began delivering the new electric truck late last year, but Tesla has not yet mentioned its sales numbers.

However, there have been two recall campaigns; the numbers cited were more than 11,000.

Tesla has seen a decline in sales as it has not produced a new electric car in years. Rivals have been catching up on the electric vehicle market with newer and more advanced models at lower rates. CEO Elon Musk said that the company will roll out new affordable models in 2025.

Elon Musk also said Tesla plans to hold an event to unveil a robotaxi on August 8. CWEB analyzes that Tesla shares could be considered on hold as investors might wait till Tesla rolls out its robotaxi this year or new, cheaper models early next year that could boost sales.

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