Elon Musk's Tesla Delivered 480,126 Vehicles in Its Best Quarter in 2 Years
Can the company ride this momentum?
Overview
The past couple of years have been rough for electric vehicle (EV) makers. Between lagging charging infrastructure, the expiration of EV tax credits in the U.S., and increased competition, even Tesla (NASDAQ: TSLA), the top player in this niche, has seen unimpressive delivery numbers. That is, until recently. Tesla announced its second-quarter deliveries on July 2, and they were strong. Here's what that means for the stock.
Image source: The White House.
Tesla's CEO, Elon Musk, may also have played a role in the company's recent struggles. His political activities led to a backlash and cost Tesla between 1 million and 1.26 million deliveries, according to some estimates. But perhaps that's all in the past now. In the second quarter, Tesla recorded 480,126 deliveries.
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Originally published at www.fool.com.