Tesla announced yesterday that their Q2 earnings announcement will be July 19th and they also revealed that deliveries during the quarter were 466,000 (up +83% from Q2 of last year) and production was nearly 480,000.
Deliveries expectations were 445,000-447,000, so they beat the top end by a little more than 4%
The premarket stock price is up more than +6% right now, as the market seems to like it.
Their price cuts certainly played a role in the high demand and we’ll have to wait a few more weeks before we can see what impact that had on margins.
Some additional commentary in an article from Reuters:
This is good news for the whole segment, proving that there is strong demand for EVs, even though Tesla cars have looked the same forever.
I hold 3.7% of Tesla. Since I’m an EV enthusiast (and owner), I also have a purely speculative position on Rivian (<1%), which is up 17% today on Tesla’s news. Just to set the expectations, there is a not so small chance that Rivian doesn’t make it as a company.
