Tesla announces record second quarter car deliveries as it remains in a price war in the burgeoning electric car market
Tesla announced record car deliveries in the second quarter as it remained in a price war in the burgeoning electric car market.
Elon Musk’s company delivered 466,140 cars in the three months to the end of June, surpassing the forecast of 445,000 and more than the 422,875 in the first quarter.
Record: Elon Musk’s company delivered 466,140 cars in the three months to the end of June, up from 422,875 in the first quarter
Production also increased to 479,700, compared to 440,808 in the first quarter. Most of the vehicles were Tesla’s lower-cost Model 3 and Model Y cars, accounting for 446,915 of total deliveries.
The better-than-expected numbers will boost Musk, which plans to boost sales this year despite concerns about the company’s limited product range and fierce competition in China, Tesla’s second-largest market.
The company began an aggressive price-cutting campaign in January and has increased incentives to entice customers.
But some analysts have warned that the strategy could erode Tesla’s profit margins, while others have warned that several deals to let rivals use Tesla’s charging stations risked erode market share.