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Shares of Tesla jumped by more than 6% in trading on Wall Street on Monday after Elon Musk’s electric car maker reported better-than-expected second quarter delivery numbers.
Musk’s price cuts helped the company deliver 466,140 vehicles in the April to June period, up 10% from the preceding quarter and 83% higher from a year earlier.
The gap between how many cars Tesla produces and delivers also narrowed to 13,560 in the second quarter from 17,933 in the previous three months.
The world’s electric-vehicle leader is projected to deliver1.8 million Teslas this year, topping its record 1.3 million in 2022.
Tesla slashed prices worldwide by up to 20% in January, sparking a price war after the company’s failure to meet Wall Street’s delivery estimates for 2022.
