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Tesla News: Deliveries Beat Wallstreet Predictions by Wide Margin Despite Pandemic

Tesla ended the quarter in a big way yesterday, announcing a surprisingly large surge in deliveries, despite the global pandemic and lockdown. They delivered and successfully completed the paperwork for 90,650 cars Q2, for comparison, Q1 of this year saw 88,000 deliveries.

In the second quarter, we produced over 82,000 vehicles and delivered approximately 90,650 vehicles.

At a second glance, these numbers tell an interesting story. We all know that Tesla deals with a massive backlog of car orders and is ramping up production year-over-year. This quarter saw significant delivery of cars made last quarter, and sales made ages ago.

Because of this delay, we do see a lower number of cars made than delivered. We also can assume that a large shipment of cars hitting the shores of Europe, mean a big boost in delivery numbers. We will find out in coming quarters just how much the pandemic has lowered new orders.

While this can’t be directly translated into a profitable quarter, it isn’t a bad sign by any means. Tesla makes and spends money on so many things, including software and energy products, other than cars. Delivering more than last quarter may not be as profitable as you’d assume.

At the same time, even one cent of profitability will give Tesla its foot into the door of the S&P 500, and on the news of delivery figures, their stock surged, as it always seems to lately, to over $1,200 a share. The most favorable Wallstreet estimates saw them delivering 80,000 cars, and some were as bearish as 60,000.

Written by Austin Crosby

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