Tesla Reports Record Deliveries And Production in Q2

Adjust Comment Print

Matthew Avery, head of research at Thatcham Research, which conducts the crash tests with the Euro NCAP, noted that Tesla's focus on the safety of its vehicles is evident in the design of the Model 3.

Still, many industry watchers continue to express skepticism for whether this demand is truly sustainable over the longer term - though given current visibility, Tesla believes it should be able to continue growing production and deliveries at least into the third quarter.

Tesla mostly blamed the drop in its sales previous year to logistical issues in its attempt to bring the Model 3 into overseas markets.

Indeed, Tesla shares went on to jump as much as 7.6% yesterday (then settled to close up nearer to 5%) after the company did exactly that, setting a fresh high mark with 87,048 vehicles produced and 95,200 vehicles delivered in the second quarter.

Tesla reported better-than-expected global sales for the second quarter on Tuesday, with 95,200 vehicles delivered.

Pakistan target record to reach World Cup semis after winning toss
Pakistan paid a heavy price for a slow start to their World Cup campaign, winning just one of their first five matches. Instead they were required to score at least 400 to have any chance of overhauling New Zealand on net run rate .

Once Tesla's backlog of pre-orders dried up, Tesla wisely shifted its delivery allotment to overseas markets. The automakers' stocks almost surged nearly 8% after this news. Model S and Model X are more expensive compared to Model 3s. Since that half-year period, every one of Tesla's vehicle's has dropped dramatically in sales in the U.S.

That seemed to get them traction in the market.

While most of the analysts were surprised with the record deliveries and production levels, not everyone expects a boost in Tesla's earnings. It helped move the needle.

The latest sales figures likely provided investors with an added boost in confidence for Tesla, which had previously reported a significant drop in sales a year ago. What's more, the popularity of the Model S - along with the Model Y and the Model 3 - definitively proved that demand for EVs was far greater than anyone could have anticipated even a few years ago. Rather, if a particular model isn't selling well, the manufacturer simply cuts prices until sales pick up. We will base our delivery information on facts provided by Inside EVs. We expect consensus estimates will be revised similarly.