Tesla (TSLA) stock jumped roughly 5% in early trading Tuesday after the EV giant reported quarterly vehicle deliveries that beat Wall Street expectations.
The EV giant delivered 443,956 vehicles during the second quarter, versus an analyst consensus estimate of 439,302 deliveries, per Bloomberg data.
“In the second quarter, we produced approximately 411,000 vehicles and delivered approximately 444,000 vehicles,” read a company statement. Broken down by car type, Tesla said it delivered 422,405 models 3/Y, and 21,551 other models.
That second quarter total delivery figure is higher than the 386,810 vehicles globally delivered in the first quarter but lower than the approximate 466,140 delivered a year ago.
The company has faced stiff competition abroad from its Chinese counterparts amid a waning market for EVs. In an effort to reduce costs, Tesla embarked on a plan to cut more than…
