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Tesla (TSLA) Q2 Earnings In-Depth: Vehicle Shipments at 14k
Electric car giant Tesla (TSLA - Free Report) just released its second-quarter fiscal 2016 earnings results. While there’s always a lot to take in whenever Tesla and Elon Musk get to talking, investors are always looking for the latest information on the company’s total car shipments.
Heading into the report, Tesla has faced slower-than-expected growth in production and delivery of its Model X, the SUV version of its all-electric car. Tesla already announced that it shipped 14,370 cars in the second-quarter, which was under its forecast of 17,000 cars.
Tesla has missed its shipment guidance in the past, and that’s troubling news for a company that plans on making half a million cars in the 2018.
In today’s report, Tesla included additional information on vehicle shipments. The company actually updated its second-quarter delivery numbers. Tesla now says that it delivered 14,402 total vehicles, consisting of 9,764 Model S cars and 14,402 Model X SUVs.
The company also said that production and demand are on track to support deliveries of approximately 50,000 new Model S and Model X vehicles in the second half of the year. If Tesla can hit that number, total deliveries will come in just slightly below its previously-forecasted 80,000 deliveries on the year.
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