Tesla Breaks All His Global Delivery And Production Records
Tesla breaks all of his global delivery and production records by delivering 95,000 electric cars and producing around 87,000 cars in second quarters. It smashed its previous record by 5,000 cars. The stock price of Tesla spiked by 8% after its announcement.
The company released the official numbers saying it “achieved record production of 87,048 vehicles and record deliveries of approximately 95,200 vehicles globally.” This has surely relieved some pressure from Elon Musk and also proves that demand for electric car vehicles bounds to increase in the future.
Looking forward to the deliveries, Model 3 compact accounts for 77,550 beating the 74,100 expected by analysts. The Model S/X accounted for 17,650 deliveries. The sales of the cars have improved but it may be the result of lowering the Model 3 price to $35,000.
The company says it has entered into the third quarter with enough orders to grow. “We believe we are well positioned to continue growing total production and deliveries in Q3,” the company said. Tesla says it has 7,400 cars for deliveries but was not delivered in the second quarter.
“Challenges remain, but this is a step in the right direction,” said Wedbush analyst Dan Ives. “The numbers were above even the bull estimates and shows a clear rebound for the company. This is a feather in the cap for Tesla.”
Last year, Tesla lost one-third of its stock value last year valuing the company at $40 Billion. Last month, the company lost its top manufacturing executive Peter Hochholdinger at the critical time. Until now, no reason has been found out behind its exit. Well, he joined Tesla in 2016 and oversaw the company’s factory Fremont in California.