Tesla: Q2 car deliveries exceed expectations

(CercleFinance.com) - Tesla announced on Tuesday that it had delivered a higher-than-expected number of vehicles in the second quarter, a performance that led to a sharp rise in its share price in New York.


The American automaker delivered 443,956 cars in the three months to the end of June, compared with 466,140 in the same quarter of 2023, down by less than 5% year-on-year.

By way of comparison, analysts were expecting an average of 438,00 deliveries, or even 420,000 units according to unofficial forecasts ("whisper estimates").

"Tesla and Musk have just made a great comeback, knowing that Wall Street was expecting them to do much less than expected over the quarter due to sluggish demand for electric vehicles", reacts Dan Ives, analyst at Wedbush Securities.

The professional attributes this pleasant surprise to a modest rebound in demand in China, but also to a stabilization of prices, two elements which he believes have enabled the company to surpass the market's most optimistic forecasts.

According to Dan Ives, this better-than-expected publication could mean that the worst is over for Tesla after several difficult months.

These second-quarter figures will please investors positioned on the buy side before what is shaping up to be a solid second half marked by numerous catalysts to come, the analyst emphasizes.

Among these, Dan Ives highlights the presentation of the next 'robotaxi', scheduled for 8 August.

Following these announcements, Tesla's share price closed up 10.2% on Tuesday, the biggest winner on the S&P 500 index.

The Texan group is due to publish its Q2 results on 19 July.


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