Tesla: record sales in the second quarter

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Tesla, the king of electric cars, achieved a record number of car deliveries in the second quarter. These good figures are explained by federal tax credits in the United States and price cuts.

 

After a somewhat complicated start to the first quarter of 2023, Tesla is back on track and exceeding Wall Street’s delivery estimates for the second quarter, with record worldwide production of 479,700 vehicles, and deliveries of 466,140 units. That’s a 10% increase on the first quarter, and an impressive 83% year-on-year rise.

 

Tesla’s latest strategy? Reduce prices. And it’s working! In fact, the Model 3 and Model Y – which are cars, not robots – were delivered in greater numbers than the more expensive Model S and Model X.

 

In all, Elon Musk’s company has delivered just over 460,000 units of Models 3 and Y, compared with 19,490 for the more expensive models. It specified that 5% of its sales were linked to long-term leases, or with an option to purchase.

 

Half of these worldwide deliveries would come from Tesla’s Shanghai factory. In all, the Texan company delivered over 75,000 electric vehicles manufactured in China in April and 77,700 in May.

 

Rising sales thanks to two factors

 

There are two reasons for this positive second quarter. The first is the federal tax credits that Joe Biden introduced for electric cars. Tesla’s Model 3 joins other Tesla cars eligible for the full $7,500 tax credit.

 

The second is the significant price drop in the USA, as well as in China and other countries such as France. According to analysts at Wedbush securities, a private equity firm, “price cuts earlier this year have paid off for Elon Musk”.

 

A significant price cut, but one that remains in investors’ sights as it impacts margins.

 

On the stock market, Tesla shares rose by over 6% in U.S. trading, with second-quarter results to be announced on July 19, after the close of trading.

 

Read also >Tesla produces more than it sells

 

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Tesla, the king of electric cars, achieved a record number of car deliveries in the second quarter. These good figures are explained by federal tax credits in the United States and price cuts.

 

After a somewhat complicated start to the first quarter of 2023, Tesla is back on track and exceeding Wall Street’s delivery estimates for the second quarter, with record worldwide production of 479,700 vehicles, and deliveries of 466,140 units. That’s a 10% increase on the first quarter, and an impressive 83% year-on-year rise.

 

Tesla’s latest strategy? Reduce prices. And it’s working! In fact, the Model 3 and Model Y – which are cars, not robots – were delivered in greater numbers than the more expensive Model S and Model X.

 

In all, Elon Musk’s company has delivered just over 460,000 units of Models 3 and Y, compared with 19,490 for the more expensive models. It specified that 5% of its sales were linked to long-term leases, or with an option to purchase.

 

Half of these worldwide deliveries would come from Tesla’s Shanghai factory. In all, the Texan company delivered over 75,000 electric vehicles manufactured in China in April and 77,700 in May.

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Tesla, the king of electric cars, achieved a record number of car deliveries in the second quarter. These good figures are explained by federal tax credits in the United States and price cuts.

 

After a somewhat complicated start to the first quarter of 2023, Tesla is back on track and exceeding Wall Street’s delivery estimates for the second quarter, with record worldwide production of 479,700 vehicles, and deliveries of 466,140 units. That’s a 10% increase on the first quarter, and an impressive 83% year-on-year rise.

 

Tesla’s latest strategy? Reduce prices. And it’s working! In fact, the Model 3 and Model Y – which are cars, not robots – were delivered in greater numbers than the more expensive Model S and Model X.

 

In all, Elon Musk’s company has delivered just over 460,000 units of Models 3 and Y, compared with 19,490 for the more expensive models. It specified that 5% of its sales were linked to long-term leases, or with an option to purchase.

 

Half of these worldwide deliveries would come from Tesla’s Shanghai factory. In all, the Texan company delivered over 75,000 electric vehicles manufactured in China in April and 77,700 in May.

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