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Tesla’s second quarter deliveries better than expected
Stifel managing director Stephen Gengaro says there are ‘multiple layers’ to Tesla and its stock valuation.
Tesla delivered more of its electric vehicles than expected in the second quarter.
The company, run by Elon Musk, said Tuesday it completed 443,956 vehicle deliveries during the quarter. That marked a nearly 4.8% decline year-over-year.
Still, the numbers topped the 438,019 deliveries LSEG analysts had predicted ahead of the release.
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Tesla shares rose after the release.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 209.86 | +11.98 | +6.05% |
Tesla’s vehicle production, meanwhile, came in at 410,831 for the quarter.
Smithtown, N.Y.: New Tesla electric vehicles fill the car lot at the Tesla retail location on Route 347 in Smithtown, New York on July 5, 2023. This location is one of five Tesla-owned centers throughout the state. (Photo by John Paraskevas/Newsday RM via Getty Images / Getty Images)
Tesla shares are down about 11% for the year, earnings will be released on July 23, the company announced.
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