{"id":30577,"date":"2023-07-02T21:55:57","date_gmt":"2023-07-03T01:55:57","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/tesla-beats-second-quarter-estimates-with-deliveries-of-466000-vehicles\/"},"modified":"2023-07-02T21:55:58","modified_gmt":"2023-07-03T01:55:58","slug":"tesla-beats-second-quarter-estimates-with-deliveries-of-466000-vehicles","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=30577","title":{"rendered":"Tesla beats second-quarter estimates with deliveries of 466,000 vehicles"},"content":{"rendered":"
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Tesla Inc. delivered a record number of vehicles in the second quarter, beating market estimates after the electric-car maker increased discounts and incentives, the company reported Sunday.<\/p>\n

The Elon Musk-led electric vehicle manufacturer delivered 466,140 vehicles in the three months ended June 30 and produced 479,700 vehicles. The second quarter of 2023 marked the fifth period in a row when Tesla reported a higher level of vehicles produced compared to deliveries.<\/p>\n

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Analysts on average had expected Tesla to deliver 445,000 cars, according to analysts polled by Refinitiv. Tesla delivered 254,695 vehicles in the year-ago quarter.<\/p>\n

\u201cThis was a massive delivery beat and will send the Tesla bears back into hibernation mode,\u201d Wedbush analyst Dan Ives tweeted <\/a>Sunday. \u201cThis was a trophy case quarter for Musk & Co.\u201d<\/p>\n

Deliveries are a carefully watched number by Tesla shareholders and are the closest approximation of sales disclosed by the company.<\/p>\n

Tesla said total production rose 85.5% to nearly 480,000 vehicles in the three months ended June 30, from a year earlier.<\/p>\n

The company delivered 446,915 Model 3 compact cars and Model Y sport-utility vehicle, as well as 19,225 of its Model S and Model X premium vehicles.<\/p>\n

Tesla increased discounts for vehicles to a $1,600-to-$7,500 range and made all of its Model 3s eligible for full federal credits of $7,500 starting in June in the U.S.<\/p>\n

Earlier this year, Tesla cut prices globally by as much as 20% after missing Wall Street delivery estimates for 2022.<\/p>\n

Tesla is expected to achieve record sales yet again in China, its second-largest market after North America, despite competition from market leader BYD.<\/p>\n

The company said it will post financial results for the second quarter after the market close on Wednesday, July 19.\u00a0<\/p>\n

Earlier this year, Ford Motor
\n F,
\n +1.20%<\/bg-quote>
\n and General Motors
\n GM,
\n +0.94%<\/bg-quote>,<\/span>
\n as well as fast-charging equipment makers, agreed to adopt Tesla\u2019s North American Charging Standard (NACS).<\/p>\n

Tesla
\n TSLA,
\n +1.66%<\/bg-quote>
\n shares closed at $261.77 on Friday ahead of the second-quarter deliveries report, and are up more than 112% year to date.<\/p>\n<\/p><\/div>\n<\/div>\n