Here's the Most Impressive Aspect of Tesla's Surprise Q2 Delivery Rebound
It would be easy to overlook Tesla's Chinese operations -- but that might be the most impressive part.
Overview
Business has been a little bumpy for Tesla (NASDAQ: TSLA) over the past couple of years. In fact, after delivering a record 1.8 million vehicles in 2023, its deliveries promptly dropped for two consecutive years. Last year was filled with speed bumps that extended beyond vehicle deliveries.
Then something intriguing happened: Tesla's second-quarter deliveries soared far above Wall Street's average estimates. Investors might be overlooking the most impressive part of the data -- that Tesla held its own in a brutal Chinese market while a number of domestic automakers did not.
Details
On paper, the Q2 numbers were exactly the blowout delivery numbers Tesla needed after many months of bad news. Tesla delivered just over 480,000 vehicles globally during the second quarter. This was a solid 25% year-over-year gain and easily topped Wall Street analysts' estimates of about 406,000 vehicles. That result was the best Q2 of deliveries in Tesla's history.
Source
Originally published at www.fool.com.