Tesla delivers record number of electric cars in Q2, shares up by 7%


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Tesla delivers record number of electric cars in Q2, shares up by 7%

Billionaire entrepreneur Elon Musk’s Tesla Inc., the American e-vehicle manufacturer, had posted a record quarterly vehicle delivery figure, sending a robust response to months of questions about demands of Tesla’s best-selling models including Model 3, lifting the share price up by as much as 7 percent during the intra-day trading on Tuesday, the 2nd of July 2019.

Nonetheless, on Tuesday’s (July 2nd) statement, Tesla Inc. did not comment on the profit margin, which still remained elusive, but the record delivery figures could bolster investors’ confidence, analysts suggested.

So far, halfway through the year, Tesla Inc.’s share price had been down by one-third from the beginning of the year. Besides, brushing aside concerns about hesitant demands which had been nudging down the company through the year, Tesla officials had been quoted saying on Tuesday (July 2nd) that order during the second quarter had exceeded deliveries despite a small tax incentive.

However, Tesla’s tax incentive package of $7,500 for every vehicle had dried out last year, and it was scheduled to be halved every six months and to be concluded by the end of this year. On last Monday (July 1st), tax break package for Tesla Inc. was reduced to $1,875.