Home Business Tesla Q2 deliveries meet analyst’s estimates despite chip shortage, shares gain

Tesla Q2 deliveries meet analyst’s estimates despite chip shortage, shares gain

Tesla Inc posted record vehicle deliveries for the second quarter that were in line with Wall Street estimates as the electric-car maker coped with a shortage of chips and raw materials. They have delivered 201,250 vehicles in total during the second quarter.

Musk congratulated in tweet the tesla team for their over 200,000 cars built & delivered in Q2, despite many challenges. Shares of the company were up 3% in early trading. The numbers showed that deliveries of its Model 3 sedans and Model Y crossovers, its two lower priced variants, offset a drop in deliveries of higher-end Model S and X variants. They are raising prices for its vehicles in recent months. Elon Musk blames this in May as their major supply chain price pressure. He also said in early June that their biggest challenge is supply chain, especially microcontroller chips. Tesla sold 21,936 cars to Chinese customers in May.

Overall deliveries of its higher priced Model S and X cars fell to 1,890 during the April to June period. The company launched the Model S Plaid in June and this is a high-performance version of its Model S, starting at $129,990. A Tesla Model S Plaid electric vehicle burst into flames while the owner was driving, just three days after the car was delivered. Tesla did not have an immediate comment about this when contacted by the reporters. Total production in the second quarter rose about 14% to 206,421 vehicles from the first quarter.

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