Tesla (NASDAQ: TSLA) reported its delivery and production figures for the second quarter of 2024 on Tuesday, beating estimates.
Wall Street consensus figures had Tesla around 438,019 vehicle deliveries for Q2, but the automaker reported 443,956 cars had made their way to customers in the second three months.
However, it decreased from Q2 2023, when Tesla delivered over 466,000 vehicles.
Tesla also reported that 410,831 vehicles were built during the quarter.
Tesla stated on its Q2 delivery and production report:
“In the second quarter, we produced approximately 411,000 vehicles and delivered approximately 444,000 vehicles. We deployed 9.4 GWh of energy storage products in Q2, the highest quarterly deployment yet.”
As for the vehicle deliveries, it is a good sign that Tesla was able to get over what Wall Street had guessed for the quarter. It still seems like a stretch that Tesla would reach the 2 million vehicle delivery threshold for the year.
However, it had its largest deployment of energy storage products by a considerable margin. Its previous record for a quarter was in Q1, where it deployed 4.053 MWh of storage.
Shares of the automaker’s stock were up 9.71 percent in pre-market trading, pushing gains up to nearly $220 per share. The past month has been good to Tesla investors as the automaker has seen a 19 percent jump in its stock over the past 30 days.
Tesla will report its Q2 financials on July 23, 2024, after market close. As usual, there will be a Shareholder Deck released as the market closes that day, followed by a link to its Earnings Call, which will begin at 4:30 p.m. Central or 5:30 p.m. Eastern.
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