Wall Street is loving Tesla's latest delivery figures - but one stat suggests Elon Musk's EV maker still has to figure out how to boost demand even further
record deliveries in the second quarter, with investors pushing the stock up more than 7% Monday.
Over the last three months, the electric-vehicle maker produced an all-time high of 497,700 vehicles, more than its 466,000 deliveries. As the Wall Stree Journal reported Monday, while Tesla has an apparent edge over upstart EV makers, it's up against big and steady demand for traditional gas-powered cars. The average price for a gas car was basically flat year-over-year in June despite wider availability of most vehicles, the Journal said, citing data from JD Power.
For now, investors are riding the wave of good news. The stock is up more than 125% over the last six months, and many took Tesla's 10% quarterly jump in deliveries as a sign of more gains to come.," Wedbush's Dan Ives said in a tweet Sunday."The price cuts was a smart poker move for Tesla and paying major dividends in the field, especially for the China market. This was a trophy case quarter for Musk & Co.
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