EV Update Media – Electric Vehicles and Battery Industry News & Updates

A platform specially designed and developed to keep the industry updated with the right Knowledge, News and Information about developments happening in the Electric Vehicles & Battery sector

Advertisement
Advertisement
Advertisement
Advertisement
Others

Tesla Announces Q2 Deliveries: 90,650 Electric Cars – Beating Expectations

Tesla announced its Q2 deliveries and production numbers. The automaker confirmed 90,650 deliveries, beating expectations. Only a few weeks ago, most Wall Street estimates put Tesla deliveries at 60,000 to 70,000 vehicles during the second quarter.It was roughly in line with the overall automotive industry decline due to the global pandemic.

“In the second quarter, we produced over 82,000 vehicles and delivered approximately 90,650 vehicles”, Tesla in the press release.

The market liked the news and Tesla’s stock jumped more than 9% in pre-market trading this morning. 90,000 deliveries mean that Tesla is up quarter-to-quarter from 88,000 deliveries during last quarter and down only 5% year-over-year.

That’s despite having to shut down Fremont factory for the first half of the quarter and having much of its operations affected by restrictions put in place to slow the spread of COVID-19. For comparison, other automakers are reporting much greater drops in deliveries. Audi just reported a more than 30% drop in deliveries in Q2.