Tesla Reports Record Quarterly Deliveries

Tesla has reported record production and delivery figures for the second quarter of 2019.

Over the past couple of weeks, Tesla chief executive Elon Musk has been feverously touting the possibility of April-June 2019 being its most prolific quarter to date. According to CNBC, that’s exactly what it was.

During the three months ending June 30, Tesla delivered a total of 95,200 vehicles, a 51.1 per cent increase over its first quarter and a touch above the previous record of 90,700 vehicle deliveries which it made in the fourth quarter of 2018.

Tesla says it expects a strong third quarter of 2019 and has a solid backlog of orders. There were also 7400 vehicles in transit by the end of Q2 2019 and once these vehicles are delivered, they will be included in Q3 results.

Also Read: Elon Musk Really Wants To See Tesla Boost Its Delivery Numbers

“In addition, we made significant progress streamlining our global logistics and delivery operations at higher volumes, enabling cost efficiencies and improvements to our working capital position,” Tesla said in a statement.

The Tesla Model 3 continues to lead the way as the electric automaker’s most popular model. Last quarter, a total of 77,550 Model 3s were delivered worldwide. By comparison, combined deliveries for the older and more expensive Model S and Model X hit 17,650.

“Challenges remain, but this is a step in the right direction,” Wedbush analyst Dan Ives said. “The numbers were above even the bull estimates and shows a clear rebound for the company. This is a feather in the cap for Tesla.”

In response to the news, Tesla’s stock jumped about 7 per cent in after-market trading.