Autos

Did Tesla Beat or Miss Q2 Delivery Estimates? 

Depending on whom you ask, Tesla Inc. (NASDAQ: TSLA) either beat or missed consensus delivery estimates for the second quarter. The EV maker delivered 201,250 units, a new record for quarterly deliveries that beats the previous record of 184,800 posted in the first quarter.

According to Refinitiv’s consensus estimate, Tesla was expected to deliver 201,000 units in the quarter. FactSet’s consensus was 207,000, in a range from 195,000 to 231,000 deliveries.

Deliveries of the company’s Model S and Model X vehicles fell from 2,020 in the first quarter to 1,890 in the second quarter. Tesla did not build any of either model during the first quarter and built just 2,340 of the two combined in the second quarter. Electrek reported that the 1,890 vehicles delivered in the second quarter were the new version of the Model S.

Tesla delivered 199,360 of its Model 3 and Model Y vehicles in the second quarter, up from 182,780 in the first quarter.

According to Electrek, delays in getting the new Model S to the market created a backlog, and an additional 10,000 vehicles were put on delivery hold in May for a supply chain issue. In its press release, Tesla noted that it had faced “global supply chain and logistics challenges” during the quarter.

Shortly after Friday’s opening bell, Tesla shares traded up less than 1%, at $678.58 in a 52-week range of $253.21 to $900.40. The average daily trading volume is about 28.7 million shares.