Tesla announced Sunday that it delivered a record number of cars in the second quarter of the year, beating market estimates after it increased discounts and incentives.
The company, owned by Elon Musk, delivered 466,000 cars in the three months ending June 30.
Nine analysts polled by Refinitiv expect Tesla to deliver 445,000 vehicles on average, around 440,000 vehicles at the minimum and 450,000 vehicles at the highest estimate.
Tesla is expected to achieve record sales again in China, its second largest market after North America, despite competition from market leader BYD.
At the same time, Tesla has achieved a series of gains in the field of fast charging for electric cars by concluding agreements with companies such as Ford Motor and General Motors, and manufacturers of fast charging equipment have agreed to adopt the company’s standards for charging in North America.
The company has increased rebates on inventory vehicles to a range of $1,600 to $7,500, and made all of its Model 3s eligible for a full $7,500 federal credit in the United States starting in June.
Tesla cut prices globally this year by up to 20 percent after delivering less cars in 2022 than Wall Street estimates.
The company said total production rose 85.5 percent to nearly 480,000 vehicles in the three months ended June 30 compared to a year earlier.
The company delivered 446,915 Model 3 and Model Y minivans, in addition to 19,225 Model X and Model S luxury cars.
Your electric car may face isolation.. and the reason!
The company had failed to achieve the expected deliveries during the first quarter of this year, as the gloomy outlook for the economy and the increasing competition affected the efforts of the electric car manufacturer to support demand by reducing prices.
Tesla deliveries rose 36 percent in the first quarter compared to last year, but remained below the 52 percent growth rate CEO Elon Musk sought this year.
Tesla delivered nearly 423,000 vehicles, less than analysts’ expectations of 430,000 vehicles, according to Refinitiv data.
Investors were anticipating the risk of its CEO, Elon Musk, who said lower prices would spur sales and offset the damage from eroding profit margins, which paid off in second-quarter data.
Musk said in January that his company’s car sales this year could reach two million cars in the absence of obstacles in the external arena, up from 1.3 million in 2022.
2023-07-02 16:37:59
#lowering #prices.. #Tesla #deliveries #exceed #expectations #quarter
