Despite the increase in deliveries in the second quarter, Tesla's stock price is still falling.

Tesla's stock price has fallen, reversing the pre-market trading gains, after the electric car maker delivered more vehicles in the latest quarter, exceeding Wall Street's expectations. Tesla reported delivering 480,126 vehicles in the second quarter, a 25% increase from the same period last year. According to the average expectation of 22 analysts published on Tesla's website last week, Wall Street had previously forecasted deliveries for the quarter to be 406,024 vehicles. This growth continues Tesla's recent momentum, as the company also saw sales increase in the first quarter. This data is also the first report of vehicle deliveries since Tesla stopped production of the luxury models Model X and Model S in May. The company still sold the remaining inventory of these vehicles in the second quarter. Tesla's stock price fell over 6%.