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US EV maker Tesla's second-quarter deliveries skid 5%
The company handed over 443,956 vehicles in the three months to June 30, 4.8% lower than a year earlier
A Tesla Cybertruck is pictured in the Manhattan borough of New York City on June 23, 2024. REUTERS
Tesla said on Tuesday that its vehicle deliveries fell by a smaller than expected 5 per cent in the second quarter from a year earlier, driven by the electric-vehicle maker's price cuts and incentives that helped stimulate demand.
The world's most valuable automaker's shares rose 4.5 per cent in premarket trading, after losing 15.5 per cent in value this year.
The EV maker handed over 443,956 vehicles in the three months to June 30, 4.8 per cent lower than a year earlier and up 14.8 per cent from the preceding quarter.
Wall Street on average had expected Tesla to deliver 438,019 vehicles, according to 12 analysts polled by LSEG.
Tesla delivered 422,405 Model 3 and Model Y and 21,551 units of other models, which include the Model S sedan, Cybertruck and Model X premium SUV. It produced 410,831 vehicles during the April-June period.
Tesla, which ignited an EV price war more than a year earlier, has also offered discounts and incentives such as low-interest loans and cheaper leasing plans in the United States, China and Europe, which have weighed on its margins.
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