Strong Model 3 demand helped Tesla set a new all-time record for quarterly deliveries
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When it comes to analyzing the vibrancy of Tesla’s business, there is certainly no shortage of distractions. Whether it’s Elon Musk stirring up controversy online or Tesla vehicles being vandalized for seemingly no reason at all, it’s easy to overlook how impressively the company has managed to boost production and deliveries on a year-over-year basis. Sure, individual quarters can be disappointing, but the company overall has slowly but surely gotten better at meeting impressive demand.
To this point, shares of Tesla are up nearly 8% in after-hours trading after the electric carmaker this afternoon revealed that vehicle deliveries for the second quarter reached 95,200 units, setting a new quarterly record in the process. The previous record for quarterly deliveries was set during the fourth quarter of 2018 and checked in at 90,700 units.
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Breaking things down across Tesla’s product line, the Model 3 accounted for 77,550 deliveries while Model S and Model X deliveries, taken together, checked in at 17,650 units. Meanwhile, Tesla during the June quarter manufactured 87,048 vehicles.
“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 revealed via a press release.
“Orders generated during the quarter exceeded our deliveries,” the press release adds, “thus we are entering Q3 with an increase in our order backlog. We believe we are well positioned to continue growing total production and deliveries in Q3.”
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