Tesla Inc shares opened nearly 7% higher on Wednesday after Chief Executive Offi...
) shares opened nearly 7% higher on Wednesday after Chief Executive Officer Elon Musk made good on his promise of delivering record number of electric cars in the second quarter, quelling fears about demand for its sedans and SUVs.
“We are increasingly comfortable that they should reflect an even better in the third quarter, and probably their first hundred thousand in a quarter,” Roth Capital analyst Craig Irwin said. Tesla’s first quarter was hurt by logistics issues at international ports and a drop-off in U.S. orders after a tax credit was halved, which spurred concerns that demand for Tesla’s electric cars may have peaked.
In the quarter, Tesla delivered 77,550 Model 3s - seen as linchpin for its growth into a mass-market company. That compared with analysts’ average estimate of 73,144, according to IBES data from Refinitiv.
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