Updated at 9:39 AM EDT
Tesla shares jumped in early Tuesday trading after the carmaker topped Wall Street forecasts with its second-quarter delivery figures.
Tesla (TSLA) delivered 443,956 new cars over the three months ended in June, the company said, down 4.7% from the same period last year and around 8.4% south of the record 484,507 tally reached over the three months ended in December.
Analysts’ forecasts for deliveries ranged from 425,000 to around 440,000, with LSEG data pegging the June-quarter target at around 438,000 units.
Related: Analyst puts Tesla stock on key ideas list as Q2 deliveries loom
Tesla delivered 422,405 units of its Model 3 sedan and Model Y midsize SUV, as well as 21,551 units of its higher-priced Model S sedan and Model X full-size SUV, the report indicated.
Production fell 14.3% to 410,831 vehicles, thanks in part to tight supply chains and closures at its Gigafactory in Berlin. Model 3/Y production was pegged at 386,576 units with Model S/X and “other model” output at 24,255 units.
Apu Gomes/Getty Images
Tesla’s China sales were disappointing, with data from the China Passenger Car Association Tuesday showing that June sales were down 24.2% from the year-earlier levels at 71,007 units.
That figure took the Q2 tally in China to 205,747 vehicles, which represents a 17% slide from the year-earlier period.
More Tesla:
- Analysts reset Tesla stock outlooks after Musk’s $56 billion win
- Cathie Wood unveils surprising Tesla stock price target
- Analyst predicts Tesla’s Elon Musk may create Apple rival
Tesla shares were last marked 5.2% higher in early Tuesday trading following the delivery data to change hands at $220.78, a move that would trim the stock’s 2024 decline to around 10.5%.
Tesla is slated to report its second-quarter earnings on July 23.
Related: Single Best Trade: Wall Street veteran picks Palantir stock
Source link
