Tesla Q2 Deliveries Steamroll Past Estimates As Quarter-End Push Positively Impacts Volume
Portfolio Pulse from Shanthi Rexaline
Tesla, Inc. (NASDAQ:TSLA) reported record Q2 deliveries of 466,140 units, exceeding estimates. The company produced 479,700 cars in the quarter, up 8.8% QoQ and 85.5% YoY. Tesla's Model 3 and Y cars dominated the deliveries numbers. The company is transitioning towards a more even regional mix of vehicle builds. Tesla announced price cuts in early 2023, impacting the company’s margin in Q1. The next major catalyst is its Q2 results, due on July 19. Tesla ended Friday’s session at $261.77, up 1.66%.
July 02, 2023 | 4:25 pm
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POSITIVE IMPACT
Tesla's record Q2 deliveries and production numbers indicate strong momentum, which could positively impact the stock. However, price cuts in early 2023 have impacted margins.
The record Q2 deliveries and production numbers indicate strong demand for Tesla's vehicles, which could drive the stock price up. However, the company's decision to cut prices in early 2023 has impacted its margins, which could potentially weigh on the stock.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100