Shares of Tesla Inc. rose more than 9% Tuesday after the electric-vehicle giant surprised investors by reporting second-quarter deliveries that beat expectations.

         

      Last Updated: July 2, 2024, at 11:08 a.m. ET  

First Published: July 2, 2024, at 8:21 a.m. ET  

By Tomi Kilgore and Claudia Assis  

Tesla's second-quarter deliveries exceeded expectations by the widest margin in over two years. This resulted in a significant boost in the company's stock price, which rose more than 9%. The latest delivery numbers underscore Tesla's robust performance and strong demand in the electric vehicle market.

Tesla's stock jumped significantly as the company reported vehicle deliveries that exceeded expectations by a wide margin. In the second quarter of 2023, Tesla delivered approximately 466,140 vehicles, which surpassed analysts' predictions and reflected a robust demand despite economic challenges. This strong performance, boosted by price cuts and effective production strategies, led to increased investor confidence and a corresponding rise in the stock price【10†source】.

        

 Shares of Tesla Inc. rose more than 9% on Tuesday after the electric-vehicle giant reported second-quarter deliveries that exceeded expectations. This marked the first time in four quarters that Tesla beat delivery estimates, and the margin was the widest since the fourth quarter of 2021, according to FactSet data. The strong delivery numbers reflect Tesla's effective production strategies and strong demand despite economic challenges, boosting investor confidence and leading to the stock's significant rise.