Tesla's Q2 vehicle deliveries reached 4.801 million, surpassing Bloomberg's consensus by 21% and exceeding JPMorgan's forecast by 14%, according to a report by TechFlow Research. Despite strong growth in Europe and Australia, with year-over-year increases of 105% and 89% respectively, the U.S. market saw a 27% decline. Tesla's Full Self-Driving (FSD) system received new approvals in several European countries, and production of Optimus Gen 3 is set to begin in July. JPMorgan maintained its Neutral rating on Tesla, citing a timing mismatch as the core reason. While energy storage deliveries of 13.5GWh exceeded JPMorgan's expectations, they fell short of Tesla's internal consensus of 13.8GWh. The target price remains at $475, based on a projected 2030 EPS of $7.50, implying a compound annual growth rate of over 50%.