Tesla’s global car deliveries hit a record high in the 2nd quarter, price cut strategy worked.
“People are still preparing for another round of (Tesla) price cuts, and such a large number of deliveries reduces the risk”
“The gap between production and deliveries is narrowing as Tesla expects”
Exceeded expectations ！
Tesla delivered a record 466,140 vehicles worldwide in the second quarter, beating Wall Street expectations.
A Tesla EV showroom in China
Delivery data released on July 2 showed that CEO Musk’s strategy of cutting prices to boost sales had the desired effect. Analysts polled by Bloomberg had forecast 448,350 deliveries for Tesla in the second quarter.
Big surprise
“It’s a big surprise,” Ben Kallo, senior analyst at Robert W Baird, said in a phone interview on July 2 morning. ” “People are still bracing for another round of (Tesla) price cuts, and such a large number of deliveries reduces the risk.”
Tesla’s second-quarter deliveries hit a quarterly record, up 83% year-over-year. The company also narrowed the gap between production and deliveries in the second quarter to 13,560 vehicles from nearly 18,000 in the first quarter, a metric closely watched by analysts.
“Everyone is concerned about rising inventories, which seems to have normalized,” Kallo said. “The gap between production and deliveries is narrowing as Tesla expects.”
Continue to cut prices
And in the Chinese market, Tesla lags behind BYD, which has a newer product line and is determined to expand globally， BYD’s own production includes semiconductors, power lithium batteries and complete vehicles
Tesla announced that it will lower the price of high-end models sold in China, after deciding in June to issue cash subsidies to buyers of some Model 3 models.
