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Tesla Delivers 201,250 Cars In Q2, Missing Estimates

Courtesy of ZeroHedge View original post here.

Tesla stock is mostly flat in the pre-market session after the company announced it delivered over 200,000 vehicles in Q2, the company said in a press release Friday morning. Its exact deliveries for the quarter came in at 201,250. 

The company produced 204,081 and delivered 199,360 Model 3/Y vehicles, the company said. It produced just 2,340 Model S and Model X vehicles and delivered just 1,890 of them. 

In total, the company's delivery of 201,250 vehicles for the quarter missed estimates, CNBC noted. Analysts had been expecting the automaker to deliver 207,000 cars during the quarter. Estimates for the quarter ranged from 195,000 to 231,000. 

The company's Q2 number did, however, break its previous record of 184,800 deliveries and 180,338 cars produced in Q1, despite sales of the company's Model S and Model X plunging during the quarter. 

Tesla had claimed during the second quarter that it was affected by parts shortages and price increases. On May 31, CEO Elon Musk claimed in a Tweet that Tesla was making some design modifications to adapt to the challenges. 

"Our teams have done an outstanding job navigating through global supply chain and logistics challenges," the release read.


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