Tesla Model 3 Deliveries Beat Expectations

Photo Credit: Electrek

Tesla has picked up its speed and moved into the passing lane once again.

After a slight bump, deliveries of the Tesla Model 3 have beaten Wall Street’s expectations for deliveries during the second quarter.

Wall Street set their delivery expectations for the Tesla Model 3 at just over 73,000 deliveries. Tesla delivered over 77,000 Model 3s, and over 95,000 vehicles altogether. This beats the company’s previous record of 90,700 deliveries during the final quarter of 2018. This was a great, but critically important target for Tesla to meet after its poor performance in the first quarter. The first quarter didn’t see a serious slowdown in production or in orders, but it did see a large drop in deliveries. Tesla reported a $700 million loss for the first quarter, which left many onlookers skeptical when CEO Elon Musk stated that it’s possible that the second quarter might see a record number of deliveries.

Tesla earlier stated that forthcoming orders have already exceeded deliveries for the second quarter, offering the company a clear path to profitability. The company’s current goal is to turn a profit in 2019, a goal that it says it will reach during the second half of the year. The delivery goal to reach such a target is somewhere between 360,000 and 400,000 vehicles during the entire year. Many analysts have predicted that this goal will be difficult to reach. For their part, Tesla remains optimistic as the company works to continue catching up after the first quarter. “We believe we are well positioned to continue growing total production and deliveries in Q3,” Tesla said on Tuesday.

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