Tesla Delivers 201,250 Cars In Q2, Missing Estimates

Tesla Delivers 201,250 Cars In Q2, Missing Estimates

Tesla stock is mostly flat in the pre-market session after the company announced it delivered over 200,000 vehicles in Q2, the company said in a press release Friday morning. Its exact deliveries for the quarter came in at 201,250. 

The company produced 204,081 and delivered 199,360 Model 3/Y vehicles, the company said. It produced just 2,340 Model S and Model X vehicles and delivered just 1,890 of them. 

In total, the company’s delivery of 201,250 vehicles for the quarter missed estimates, CNBC noted. Analysts had been expecting the automaker to deliver 207,000 cars during the quarter. Estimates for the quarter ranged from 195,000 to 231,000. 

The company’s Q2 number did, however, break its previous record of 184,800 deliveries and 180,338 cars produced in Q1, despite sales of the company’s Model S and Model X plunging during the quarter. 

Tesla had claimed during the second quarter that it was affected by parts shortages and price increases. On May 31, CEO Elon Musk claimed in a Tweet that Tesla was making some design modifications to adapt to the challenges. 

Moving lumbar was removed only in front passenger seat of 3/Y (obv not there in rear seats). Logs showed almost no usage. Not worth cost/mass for everyone when almost never used.

Prices increasing due to major supply chain price pressure industry-wide. Raw materials especially.

— Elon Musk (@elonmusk) May 31, 2021

“Our teams have done an outstanding job navigating through global supply chain and logistics challenges,” the release read.

Tyler Durden
Fri, 07/02/2021 – 08:56

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