Tesla’s second quarter figures deliver mixed results

By Prasun Bose

Tesla has announced its figures for the second quarter of 2017.

The Palo Alto-based auto manufacturer delivered 22,000 new vehicles in the period, dropping short of the expected figure of 25,000.

Sales increased by 53% from the same quarter in 2016, however, and it reached its objective of falling between 47,000 and 50,000 deliveries for the first half of 2017, achieving 47,100. 

It remains on track to clear its 76,000 deliveries total for the 12 months in 2016.

See also: 

Tesla said in a statement: “The major factor affecting Tesla's Q2 deliveries was a severe production shortfall of 100 kWh battery packs, which are made using new technologies on new production lines. 

“The technology challenge grows exponentially with energy density. Until early June, production averaged about 40% below demand. 

“Once this was resolved, June orders and deliveries were strong, ranking as one of the best in Tesla history.”

Production for the second quarter totalled 25,708, with a notable improvement in Model X production. 

Elon Musk’s company also revealed that the first batch of customers purchasing its highly-anticipated Model 3 will get their hands on the vehicle at its Fremont factory by July 28.


Featured Articles

Top 10 cybersecurity specialists in the US

As cyber attacks grow in frequency and become increasingly sophisticated, Business Chief looks at the top 10 cybersecurity specialists in the US.

Silicon Valley Bank collapse: How did we get here?

US authorities have stepped in to protect all Silicon Valley Bank customers following the second-largest bank failure in the country's history

Top 10 best new leadership books by women to read in 2023

To mark IWD, here’s our pick of the best new leadership books – all penned by impressive women at the forefront of the ever-evolving world of work

Eight of the best business leadership podcasts

Leadership & Strategy

CEO John Pagano, leading Saudi Arabia's Red Sea Global

Leadership & Strategy

Top 10 female CEOs according to Fortune’s Global 500 list

Leadership & Strategy