Tesla’s Stock Went Up After Setting A New Record Of Delivery And Production Of Cars

Tesla Inc. is that company which has always been in the news either for some controversy or for some extraordinary achievements in the EV industry. However, today Tesla Inc. has brought a very good for its investors because the company’s stock went up by more than 7% during intraday trading. Tesla released its second-quarter results, and it has beaten every analyst’s prediction. Tesla managed to deliver a record amount of more than 95200 vehicles, and it produced 87048 cars.

A few days ago, before the company’s release of second-quarter results, many experts predicted a dire situation for Tesla, but it has beaten everyone’s expectations and that too, with higher margins. On June 25 CEO of Tesla Elon Musk said that the company is on the verge of delivering the most number of cars by the end of this quarter. Now we can see it’s clear that he wasn’t exaggerating it. Tesla managed to break this record of producing the most number of vehicles that too within just three months.

If we look back, then Tesla’s production has gone up more than 51% as compared to last year’s quarter’s performance. Experts predicted that Tesla might be able to touch the benchmark of producing 91000 cars, but they have successfully beat them with high margin. In the first quarter of this year, Tesla managed to deliver only 632000 cars because of weak production and transportation issues. Meanwhile, Tesla is facing a tremendous amount of competition from large companies like Ford, GM, but since they are far ahead of these companies, they might not have to worry about competitors. Even this number might look fascinating; still, there are more than 8400 vehicles, according to Tesla, which are still in transit and hasn’t delivered. However, it will be interesting to see whether Tesla is going to manage its high-performance next quarter or not.