Category: Electric

Tesla Model 3 and Model Y delivered 446,915 units worldwide in the second quarter, beating market expectations of 437,400 and contributing 96 percent of deliveries.

Tesla (NASDAQ: TSLA) saw another record quarter of deliveries.

The US electric vehicle (EV) giant delivered 466,140 vehicles worldwide in the second quarter, up 83.02 percent year-on-year and up 10.23 percent from 422,875 in the first quarter, according to its overnight announcement.

It was also a new record for Tesla's EV deliveries and higher than the 448,400 units Wall Street analysts had expected.

Tesla's cheaper Model 3 and Model Y delivered 446,915 units worldwide in the second quarter, above market expectations of 437,400 units, contributing 96 percent of deliveries. A total of 19,255 Model S and Model X units were delivered, above expectations of 14,600 units.

Tesla produced 479,700 vehicles in the second quarter, including 460,211 Model 3 and Model Y, and 19,489 Model S with Model X.

Tesla's production and delivery gap was 13,560 units in the second quarter, down from 18,000 units in the previous quarter.

Tesla cut prices globally earlier this year, and its starting price for the Model 3 sedan came to an all-time low after it cut prices in China on January 6.

In early May, the company raised the prices of all Model 3s and Model Ys in China, all by 2,000 yuan ($275), an increase of less than 1 percent. The move was thought to be more aimed at dampening consumers' wait-and-see sentiment at the time.

In China, Tesla has a factory in Shanghai that produces the Model 3 and Model Y. It's the largest Tesla factory in the world, with an annual capacity of about 1.1 million units a year.

Tesla does not officially announce its deliveries in China, though the China Passenger Car Association (CPCA) publishes those numbers every month.

Tesla's retail sales in China in April and May were 39,956 and 42,508, respectively, and its Shanghai plant exported 35,886 and 35,187 units in the two months, according to the CPCA.

The company's June sales figures in China are expected to be available in a few days.

BYD (OTCMKTS: BYDDY), one of Tesla's main competitors in China, delivered 703,561 new energy vehicles (NEVs) in the second quarter, including 700,244 passenger cars and 3,317 commercial vehicles, according to data released yesterday.

BYD's passenger vehicle sales in the second quarter included 352,163 battery electric vehicles (BEVs) similar to Tesla vehicles and 348,081 plug-in hybrid vehicles (PHEVs).

($1 = RMB 7.2523)

BYD sells record 253,046 NEVs in Jun, sales in H1 exceed 1.25 million

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