Business Is Booming For Tesla

tesla motors is breaking records
PATRICIA DE MELO MOREIRA/AFP/Getty Images
PATRICIA DE MELO MOREIRA/AFP/Getty Images

Just when you thought things couldn’t get better for Tesla, they released their second-quarter reports. The Elon Musk led motor company soared beyond their own predictions, and saw their stock soar by seven percent as a result.

In the second quarter, Tesla produced 87,048 cars and delivered 95,200. The delivery numbers set a new record for the company, which previously stood at 90,700. More importantly, the delivery rate was a 51 percent increase over their first quarter, which was so weak it sparked plenty of concern from investors.

Dan Ives, an analyst for Wedbush, congratulated the big win for Tesla, “Challenges remain, but this is a step in the right direction. The numbers were above even the bull estimates and shows a clear rebound for the company. This is a feather in the cap for Tesla.”

Tesla credits it jumps from 63,000 deliveries in the first three months of the year to nearly 100,000 to a streamlined delivery process, “enabling cost efficiencies and improvements to our working capital position.”

The strength of Tesla’s second-quarter brings optimism that the third quarter, which just started, could be even bigger. Do you think Tesla will break its delivery record again?