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Abstract:Shares of the company's stock rose more than 7% on Tuesday after the production and delivery numbers were released.
Tesla on Tuesday released second-quarter delivery numbers that set a company record, it said.
Shares of the company's stock rose more than 7% in after-hours trading.
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Tesla on Tuesday said it delivered a record-setting 95,200 cars in the second quarter of 2019.
Total production for the quarter, which ended on June 30, exceeded deliveries, as is common, leaving about 7,400 cars in the lurch at the end of the reporting period.
Here are the numbers:
“We made significant progress streamlining our global logistics and delivery operations at higher volumes, enabling cost efficiencies and improvements to our working capital position,” the company said in a press release.
The numbers released on Tuesday topped many estimates by Wall Street analysts, despite those expectations being raised by some in recent days. Ahead of the report, the Barclays analyst Brian Johnson, a longtime Tesla bear, upped his delivery estimates to 85,000 from 75,000, still well under the total reported by the company on Tuesday.
Shares of Tesla rose as much 7% following the numbers' release.
In the past week, Tesla has lost several vice presidents, including its head of European operations, production, and engineering.
Do you work for Tesla? Got a news tip? Get in touch with this reporter at grapier@businessinsider.com. Secure contact methods are available here.
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Tesla CEO Elon Musk offloaded a combined $6.9 billion worth of shares in the electric car company this week, taking advantage of a meteoric rally that vaulted the firm's value to over $1 trillion.
Tesla CEO Elon Musk offloaded a combined $6.9 billion worth of shares in the electric car company this week, taking advantage of a meteoric rally that vaulted the firm's value to over $1 trillion.