US electric vehicle maker Tesla delivered 466,140 cars in the second quarter, according to a statement on Sunday, above expectations despite a tough market.
These volumes represent an increase of 83% compared to the same period last year and 10% compared to the first three months of 2023.
This is significantly more than the forecasts of analysts, who had a figure of less than 450,000 vehicles delivered.
From April to June, Tesla produced 479,700 cars, an 85% year-over-year increase, also above market expectations.
In the first half of the year, the Austin (Texas) group produced 920,508 cars, just over half the 1.8 million target set for 2023.
“The price cuts made earlier in the year have paid off for Musk & Co.,” Wedbush Securities analysts said in a note.
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“Demand, which seems to continue to be very strong, and the improvement in the rate of production have made it possible to widely exceed expectations this quarter,” they add.
Faced with increased competition in the electric vehicle market, Tesla has made several price cuts, whether in the United States, Europe or China.
This strategy also enabled it to weather a general slowdown in demand in China.
“We have made the decision to sell higher volumes and build a larger fleet, rather than sell less with higher margins,” CEO Elon Musk said during a first-quarter earnings conference call in late April.
In the United States, Tesla has also benefited from the recent review of its models’ eligibility for the $7,500 tax breaks offered by the Biden administration.
Until now, buyers of the entry-level Model 3 could only claim half that amount, because some parts were produced in China.
Source: BFM TV
