Tesla reports record deliveries, stock jumps 6%
Tesla Inc. reported record quarterly deliveries of 95,200 cars Tuesday afternoon. The highly anticipated announcement comes after several leaked emails from Chief Executive Elon Musk that urged employees to work hard at the end of the second quarter to pull off the feat, after disappointing first-quarter results from the electric-car maker. Tesla shares jumped about 6.5% in after-hours trading immediately following the announcement. The company said it delivered 77,550 Model 3 cars, and 17,650 Model S and Model X electric vehicles. Tesla has predicted that it will deliver 360,000 to 400,000 cars this year, though its is well less than halfway to that goal at the midpoint of the year, having delivered fewer than 160,000 cars through the end of June. "We believe we are well positioned to continue growing total production and deliveries in Q3," the company stated in its announcement. Tesla's previous quarterly record was 91,000 deliveries in the fourth quarter of 2018. Tesla said that 7,400 cars were in transit at the end of the quarter, but will stop reporting that information in its quarterly announcement moving forward.
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