Tesla Inc. delivered a record number of vehicles in the second quarter, beating market estimates after the electric-car maker increased discounts and incentives, the company reported Sunday. The news sent the stock up more than 6% in premarket trade Monday.
“This was a massive delivery beat and will send the Tesla bears back into hibernation mode,” Wedbush analyst Dan Ives tweeted Sunday. “This was a trophy case quarter for Musk & Co.” The company delivered 446,915 Model 3 compact cars and Model Y sport-utility vehicle, as well as 19,225 of its Model S and Model X premium vehicles.
Tesla is expected to achieve record sales yet again in China, its second-largest market after North America, despite competition from market leader BYD.
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