Tesla sales rose last quarter in a possible sign the worst of the Musk backlash is behind it
Summary
Tesla sold 480,126 cars in the past three months, which is more than last year and higher than experts expected. This rise in sales suggests that concerns from boycotts and competition might be easing, especially as Tesla’s cheaper car models and driver assistance features gain popularity in Europe.Key Facts
- Tesla delivered 480,126 cars in the latest quarter, up from 384,122 in the same period last year.
- The production volume for the quarter was 451,758 vehicles.
- Analysts had estimated about 401,000 car deliveries, so Tesla exceeded expectations.
- Tesla saw strong sales growth in Europe, including a 300% increase in Germany in May.
- The company released cheaper versions of Model Y and Model 3 last year to boost sales.
- More European countries have approved Tesla’s Full Self-Driving (Supervised) feature, including the Netherlands, Estonia, Greece, and Lithuania.
- Tesla’s stock price has risen over 40% in the past year, fully recovering from a drop the previous year.
- Sales had dropped last year due to protests, boycotts, and vandalism in Europe and the U.S., but have since rebounded.
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