Tesla Sets Record 95,200 Deliveries in Q2, Stock Surges 7% in After Hours Trading
Elon Musk and Tesla announced Q2 production and deliveries data today, revealing a record 95,200 cars delivered, which drove the company’s stock in after-hours trading over 7%. Record production numbers also were achieved in Q2.
The number is more than double the 40,740 cars delivered in the year-ago quarter, and surpassing the 63,000 cars from the Q1 of this year.
“In the second quarter, we achieved record production of 87,048 vehicles and record deliveries of approximately 95,200 vehicles. In addition, we made significant progress streamlining our global logistics and delivery operations at higher volumes, enabling cost efficiencies and improvements to our working capital position,” explained the company.
Model S and Model X comprised of 17,650 deliveries, while the Model 3 was at 77,550 deliveries.
“Orders generated during the quarter exceeded our deliveries, thus we are entering Q3 with an increase in our order backlog. We believe we are well positioned to continue growing total production and deliveries in Q3,” said Tesla on Tuesday.
Canadians ordering the Tesla Model 3 have been taking advantage of a new $5,000 federal electric vehicle incentive. Tesla managed to implement a creative workaround to qualify for the federal rebate, which initially excluded the company’s vehicles.