TSLA: "Between two major growth waves" means "low growth" or actually "no growth"?

In the second quarter, we produced approximately 411,000 vehicles and delivered approximately 444,000 vehicles. We deployed 9.4 GWh of energy storage products in Q2, the highest quarterly deployment yet.
Tesla reports 443,956 deliveries in second quarter, a 4.8% decrease from last year

Tesla shares jumped on Tuesday after the company posted second-quarter vehicle production and deliveries numbers that beat analyst expectations.
Analysts expected Tesla deliveries to hit 439,000 in the three months ending June 30, according to a consensus of estimates compiled by FactSet StreetAccount. The total number of deliveries in the second quarter fell 4.8% from 466,140 a year earlier but rose 14.8% from the first quarter.

Tesla on Tuesday reported a smaller-than-expected 5% drop in vehicle deliveries in the second quarter, as the electric carmaker's price cuts and incentives helped mitigate cooling demand.
Shares of the world's most valuable automaker rallied more than 10% on Tuesday, hitting the highest level in nearly six months.

Tesla's June-quarter deliveries likely fell 6%, the first time the top EV maker is set to post two straight quarters of decline, as it deals with stiff competition in China and slow demand due to a lack of affordable new models.

Tesla's June sales of China-made electric vehicles fell 24.2% from a year earlier to 71,007, data from the China Passenger Car Association (CPCA) showed on Tuesday.
Deliveries of the U.S. automaker's China-made Model 3 and Model Y vehicles fell 2.2% from May levels.
Chinese rival BYD with its Dynasty and Ocean lineups of EVs and plug-in hybrids, sold 340,211 passenger vehicles in June, up 35.2% year on year.