Tesla Deliveries Beat Estimates On Strong Model Y, Model 3 Demand
Tesla (NASDAQ: TSLA) said that it delivered 90,650 vehicles in the second quarter of 2020, well ahead of analysts' estimates, led by strong demand for its smaller Model 3 sedan and new Model Y crossover SUV.
Combined deliveries of the Model 3 and Model Y totaled 80,050 in the quarter, Tesla said. The company's older and more expensive models, the Model S sedan and Model X SUV, accounted for the remainder, about 10,600 in total.
Tesla's result was well ahead of Wall Street's coronavirus-adjusted consensus forecast of 72,000 vehicles delivered in the quarter. Tesla's total second quarter production of 82,272 vehicles was also higher than expected, particularly given that the company's main factory in Fremont, California, was idled for all of April and part of May.
Source Fool.com
