July 3, 2019 | Investopaper
Tesla Inc. has reported a strong second quarterly report this week. As a result, the share price of the company increased by 7 percent in aftermarket trading this Tuesday. The company reported that it has broken old production and delivery records to set a new record this quarter.
The CEO of the company, Elon Musk informed through an email that the electric car maker was on course to deliver a record number of vehicles throughout the quarter. The company delivered 95,200 cars in the three month period. It was able to go past the previous record of 90, 700 deliveries recorded in the fourth quarter of 2018.
This is more than a 50 percent increase compared to the weak first quarter of 2019. The company was able to beat the analyst forecast of 91,000 deliveries. Investors can also expect a strong third quarter performance after the company hinted the same by stating that it’s entering the period with a backlog of orders.
Tesla is an American automotive and energy company based in California, USA. The company is mainly focused on electric car manufacturing.