Tesla’s second quarter figures deliver mixed results
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.
- Red Ventures to buy Bankrate in $1.4bn deal
- Drop in United States drilling activity causes oil price rise
- Business Review USA magazine - latest issue
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.
- Meet the COO: Honeywell veteran Vimal Kapur becomes COOLeadership & Strategy
- Hiring activity for tech workers is rising despite layoffsTechnology & AI
- The Meta Daisies prepare to rock the metaverse for Gen ZTechnology & AI
- McKinsey's 5 tips for business leaders to embrace space raceTechnology & AI