Tesla will report its expected second-quarter financial results on Wednesday, July 19, 2023.
Electric vehicle giant Tesla Inc (NASDAQ: TSLA) announced its vehicle production for the second quarter on July 02, 2023. During the second quarter, Tesla produced a total of 479,700 electric vehicles and delivered 466,140 units to customers around the world. Notably, the company’s Model S/X accounted for 19,489 in production during the second quarter but about 19,225 were delivered to customers. Reportedly, about 460,211 Model 3/Ys were produced during the second quarter with approximately 446,915 units delivered to global customers.
The production is for Second Quarter It was a significant increase compared to the first quarter. It is worth noting that the company produced a total of 440,808 electrical units during the first quarter and delivered about 422,875 to its customers. During the first quarter, Tesla reported a total of 421,371 Model 3/Y production but about 412,180 were delivered to customers. For the Model S/X, the company produced a total of 19,437 units but delivered only 10,695 to customers.
Tesla market amid increasing production of electric vehicles
Meanwhile, the company promised to provide financial results for the second quarter after the market closes on Wednesday, July 19, 2023. The company’s stock market had few reactions to the announcement over the weekend. According to the latest stock market data, TSLA shares closed last Friday at $261.77, up 1.66 percent on the day. During the after-hours trading session, Tesla shares traded around the same level. Notably, Tesla shares have gained nearly 112 percent year-to-date with more analysts optimistic about its impressive performance for the rest of the year.
Tesla CEO Elon Musk has warned investors about the highly speculative nature of the TSLA stock market. Moreover, the company is valued at more than $829 billion but is currently making a small sales margin. However, Musk emphasized that the company is confident in creating value over the long term.
Please advise people to beware of margin loans. Tesla has always been a high-variance stock, often with no apparent rhyme or reason. We are confident in creating value over the long term, but we cannot control the manic-depressive nature of the stock market,” Musk said. male.
The company announced several price cuts for various models during the second quarter to remain competitive among its peers around the world. However, Chief Research Analyst Alexander E. Potter Piper Sandler wrote in a June 26 note that Tesla investors will feel the pain if price cuts continue into the third quarter.
Meanwhile, the company has planned to expand its electric vehicle production to various emerging markets including Mexico, India and France, among others. As a result, the company intends to increase product production for other models including the heavy-duty electric semi-truck, Cybertruck pickup, and robotaxis.
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