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.
However, we reported last week that Tesla could surprise with near-record deliveries in the second quarter based on sources putting North American deliveries significantly higher than most people expected.
Following our report, several analysts updated their expectations with the Wall Street consensus settling up at about 80,000 deliveries.
Today, Tesla announced that it beat those expectations with just over 90,000 deliveries in Q2:
In the second quarter, we produced over 82,000 vehicles and delivered approximately 90,650 vehicles.
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.
Source: Fred Lambert | Electrek
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