Tesla beats second-quarter delivery estimates as price cuts pay off
CTV
Tesla Inc. on Sunday said it delivered a record number of vehicles in the second quarter, topping market estimates as price cuts and U.S. federal credits helped make its electric vehicles more affordable.
Tesla Inc. on Sunday said it delivered a record number of vehicles in the second quarter, topping market estimates as price cuts and U.S. federal credits helped make its electric vehicles more affordable.
The Elon Musk-led company handed 466,140 vehicles in the April to June period, up 10% from the preceding quarter, and 83% higher from a year earlier.
Analysts on average had expected Tesla to deliver 445,000 cars, according to nine analysts polled by Refinitiv, with the lowest estimate at 439,875 and highest at 450,000.
The world's most valuable automaker produced 13,560 more vehicles than it delivered in the second quarter, although the gap has narrowed from 17,933 the first quarter.
"The price cuts was a smart poker move for Tesla and paying major dividends in the field especially for the China market," Dan Ives, an analyst at Wedbush Securities, said.
Tesla is expected to hit record sales in China, its second-largest market after North America, despite stiff competition from market leader BYD.
"We believe margins will trough the next few quarters," Ives added.
SpaceX on Tuesday launched another Starship rocket, but passed up catching the booster with giant mechanical arms.
Caring for a senior pet is no walk in the park, especially when the pet can't walk at all. A Colorado woman was shocked to find her dog's wheelchair missing from the porch Tuesday morning
New York City on Monday issued its first drought warning in 22 years after months of little rain -- and will restart the flow of drinking water from an out-of-service aqueduct as supplies run low.
Six monkeys were still on the loose early Monday after dozens escaped earlier this month from a South Carolina compound that breeds the primates for medical research, according to authorities.
Hundreds of organic baby- and toddler-sized rompers sold by an Ontario-based sustainable clothing company have been recalled over concerns they could catch fire and injure children, according to Health Canada.
Joe Biden toured the drought-shrunken waters of the Amazon River’s greatest tributary Sunday as the first sitting American president to set foot in the legendary rainforest.
The US Centers for Disease Control and Prevention is investigating an E. coli outbreak in at least 18 states linked to some organic carrots, which has led to at least one death.
Tropical storm Sara drenches Honduras’ northern coast, with flash flooding and mudslides in forecast
Tropical storm Sara stalled over Honduras on Saturday. The area could see life-threatening flash flooding and mudslides through the weekend.
It's a growing trend online: fragrance influencers who rave about the beauty, sexiness and notes of vanilla in perfume have caught the attention of Canadian teenagers who are, in turn, flocking to cologne counters across the country.
The Edmonton Valley Zoo is debuting two red panda cubs named after the mischievous twin wizards in the "Harry Potter" series.
While it remains small compared to established online spaces such as X, Bluesky has emerged as an alternative for those looking for a different mood, lighter and friendlier and less influenced by Musk.