Tesla delivered record number of cars in Q2 2019

According to a media report, Tesla has reported a record number of deliveries during the last quarter. 95,200 cars were delivered during the second quarter of 2019. Out of these, the Model 3 accounted for 77,550 units. Tesla is also reported to have received more orders than the number of cars it delivered. The carmaker's stock rose by 7%.

In comparison, Tesla delivered 40,740 cars during the same quarter last year and 63,000 cars in the first three months of 2019. Tesla's deliveries fell during the first quarter of the year and the carmaker attributes this to logistical issues as it began deliveries of the Model 3 globally. The company claims to have streamlined the shipping and delivery process. It is said to be in a position to increase production and deliveries further, even though other car manufacturers have started introducing electric cars of their own.

Tesla reported a loss of US$ 702 million in the first quarter of 2019. While the earnings of the second quarter are not known, the company is expected to post its first profit of 2019 in the third quarter of the year.

Source: CNN Business