Tesla delivered a record 466,140 vehicles globally in the second quarter, according to figures presented this Sunday by the firm led by Elon Musk. The strategy of cutting prices to gain volume has had an effect despite the negative impact it initially had.
The final figure, never seen in a quarter, represents a growth of 83% over last year and is above the 448,350 cars that analysts expected, according to a Bloomberg survey. “People were still preparing for another round of price cutting, and this good number of deliveries makes it less of a risk,” said Ben Kallo of Robert W. Baird.
In addition to the price cut, Tesla has also introduced perks like free fast charging in the US for deliveries before June 30. Likewise, incentives for the purchase of electric vehicles, with access to state credits of up to $7,500, have made their cars more affordable.
Musk escalated the price war in April, saying the electric maker would prioritize sales growth over profits amid a weak economy and increasing competition. The new figures fuel doubts about the impact the strategy will have on margins.
The Model 3 and the Y account for almost all sales. Between them, it delivered 446,915 units, compared to 19,225 for the Model S and X. Throughout the quarter, the price of the Model 3 was lowered by about $3,000. Those for the SUV X exceeded $10,000.
The gap between cars produced and deliveries, which analysts are looking at closely, also decreases. Thus, while in the first quarter he produced 18,000 more cars than he delivered, now there have been 13,560. This makes it easier to manage inventory, something the brand said it would attack.
In the whole year Tesla expects to sell 1.97 million cars, so that sales grow at a rate of 50% per year, but analysts believe that it will remain somewhat below, at 1.82 million units.
