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Tesla Sets New Delivery And Production Records In Q2 2019

Ubergizmo 2019-07-03 08:23:00


The market loves to speculate about Tesla’s demand and supply figures as the company has hit some bumps along the way in getting those numbers up to a sufficient level. Amid concerns that demand for the company’s all-electric vehicles may have slowed in the wake of increased competition, Tesla has now revealed that it set production and delivery records in the second quarter of this year.

The company has confirmed that it produced 87,048 vehicles in Q2 2019 and delivered 95,200 units. This is a new record for the company and it’s comfortably ahead of what analysts were estimating.

This also hints at a strong third quarter for the company since there’s likely going to be a strong backlog of orders. The news was welcomed by investors as Tesla’s shares surged by almost 8 percent before the markets opened.

The expectation had already been set for a record-breaking quarter. Tesla CEO Elon Musk sent a companywide email late last month, telling employees that Tesla was on track to deliver a record number of vehicles for the quarter. The company finished the quarter ending June 30 with 95,200 cars delivered, a solid 51.1 percent improvement compared to the first quarter. Tesla’s previous highest delivery record in a quarter was 90,700 units which was set in the fourth quarter of 2018.

Filed in Transportation. Read more about Tesla.