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Tesla CEO Elon Musk gets into a Tesla car as he leaves a hotel in Beijing, China on May 31, 2023.
Tingshu Wang | Reuters
Tesla Shares rose more than 7% in Monday’s trading, boosted in part by stronger-than-expected second-quarter deliveries and production numbers.
The numbers, from the automaker’s Sunday report, are the closest rough estimate of sales disclosed by the company and are closely watched by analysts and shareholders.
Analysts expected 445,925 deliveries for the period ending June 30, 2023. Tesla beat that estimate by more than 20,000 vehicles, delivering 466,140 vehicles for the second quarter of 2023.
The delivery figure was paid for by incentives and discounts offered to buyers in the first half of the year, and a $7,500 federal tax credit under the US Inflation Reduction Act.”
Tesla shares are up nearly 126% since the start of the year, after a painful performance in 2022 that sent them heading towards historic lows. Shares are still far from their pandemic heights, when the stock briefly settled above $407 in November 2021, but it has since largely recovered from its December 2022 low of $101.81.
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