Tesla Inc on Thursday beat Wall Street estimates for second-quarter vehicle deliveries, as lockdowns imposed globally to combat the spread of the ...
REUTERS: Tesla Inc outpaced analyst estimates for second-quarter vehicle deliveries on Thursday, defying a trend of plummeting sales in the wider auto industry as coronavirus-linked lockdown orders kept shoppers at home, and sending its shares up 9per cent.
"A 90k delivery number in this COVID lockdown environment is a jaw dropper," Wedbush analyst Daniel Ives said in a note. Tesla's only U.S. vehicle factory in California, where the bulk of vehicles is currently produced, was shut down for some six weeks during the quarter, heeding local orders to curb the spread of the novel coronavirus. While vehicle deliveries increased 2.5per cent on a quarterly basis, production dropped nearly 20per cent.
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