The Model S sedan saw cuts of about $7,500. Model X SUV price cuts reached over $10,000, and the company threw in three years of free charging for the S and X. The company trimmed prices on some Model 3 cars by more than $3,000.
Larger price drops emerged on store inventory toward the end of the quarter in mid-June.
prices at least four times during the quarter for vehicles ordered by customers. Analysts expect Tesla to fall a little short, delivering 1.82 million vehicles for the year. To reach that number for the full year, the company would have to sell 1.97 million vehicles. The company sold 422,875 vehicles from January through March.ĬEO Elon Musk has predicted that sales will grow about 50% per year for the near future. The second-quarter sales bring Tesla to nearly 900,000 vehicles for the first half of this year. The company produced 479,700 vehicles from April through June, about 13,000 more than it sold, indicating that inventories may be building. Analysts polled by data provider FactSet expected deliveries of 445,000 for the quarter.
Tesla's sales were better than Wall Street expectations. The vast majority of the sales were Tesla's popular Model 3 and Model Y versions.īut the price cuts, both for special orders and on existing inventory, raised questions from analysts who expect the cuts to reduce Tesla's profit margins when it announces second-quarter earnings on July 19. The Austin, Texas, producer of EV, solar panels and batteries said Sunday that it sold a record 466,140 vehicles worldwide from April through June, nearly doubling the 254,695 it sold during the same period a year earlier. Tesla's second-quarter deliveries rose 83% from a year ago after the company cut prices several times on its four electric vehicle models and buyers took advantage of U.S.
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