Tesla's Second-Quarter Deliveries Beat Estimates as Price Cuts Boost Sales

Tiger Newspress07-02

Tesla's second-quarter vehicle deliveries beat estimates on Tuesday driven by the electric-vehicle maker's price cuts and incentives that helped stimulate demand.

The world's most valuable automaker's shares surged over 9% in morning trading.

Tesla delivered 422,405 Model 3 and Model Y and 21,551 units of other models, which include the Model S sedan, Cybertruck and Model X premium SUV. It produced 410,831 vehicles during the April-June period.

The EV maker handed over 443,956 vehicles in the three months to June 30, 4.8% lower than a year earlier and up 14.8% from the preceding quarter.

Wall Street on average had expected Tesla to deliver 438,019 vehicles, according to 12 analysts polled by LSEG.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

  • Guavaxf30
    07-03
    Guavaxf30
    This is completely nuts. They sold less cars than a year ago. 
  • TotoPangan
    07-03
    TotoPangan
    i exit my buy call options since January and profited. now i'm HODL  my TSLA stocks.
  • MIe
    07-03
    MIe
    Upside q2 earnings 
  • Happiness.
    07-03
    Happiness.
    Congratulations Tesla & my $Tesla Motors(TSLA)$ Stocks[Happy] [Great]  
  • Cellics
    07-02
    Cellics
    Short the shorts! 🤭
  • Monkseal
    07-02
    Monkseal
    Where are the anal-yts that expect decline in sales and that the share price will take a beating? Where are they? Who are taking them to task for a wrongful analysis resulting in retail investors letting go too early?
Leave a comment
10
10