Tesla’s second-quarter deliveries came in well above analyst expectations, with the Model 3 and Model Y accounting for nearly all vehicles handed over to customers.
By yourNEWS Media Newsroom
Tesla reported stronger-than-expected vehicle deliveries for the second quarter, beating Wall Street forecasts after recent annual declines in deliveries.
The electric vehicle maker delivered 480,126 vehicles during the quarter and produced 451,758 vehicles, according to company figures cited by CNBC. Analysts had expected approximately 406,600 deliveries.
The result marked a sharp improvement from the same quarter last year, when Tesla reported 384,000 deliveries. It was also significantly higher than the first quarter of this year, when the company delivered 358,023 vehicles.
Tesla said its Model 3 sedan and Model Y SUV made up 97% of second-quarter deliveries, showing continued dependence on the company’s two entry-level models.
The report showed both production and delivery numbers running ahead of analyst expectations, though the production total remained below deliveries for the quarter.
Despite the stronger-than-expected delivery data, Tesla shares fell 7% on Thursday.
The second-quarter figures give Tesla a stronger delivery base after consecutive annual declines, but the market reaction suggests investors remain focused on broader concerns facing the company, including demand trends, pricing and competition in the electric vehicle market.
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