The automaker has not given up. Second quarter vehicle deliveries have skyrocketed, giving Tesla’s bulls yet another reason to justify the pricey valuation of the growth stock.
Here’s a look at the company’s second quarter deliveries of electric cars – and what that means for the future.
More than 200,000 deliveries
In a press release Friday morning, Tesla said it delivered 201,250 deliveries during the quarter. Those shipments grew 121% year-over-year – the company’s highest growth rate in two years. In addition, the growth rate was notably an acceleration from the 109% year-on-year growth Tesla reported in the first quarter.
Of the 201,250 vehicles Tesla delivered, 199,360 were either a Model 3 or a Model Y, the company’s two most affordable vehicles. The S and X models represented only 1,890 deliveries.
The uncertainty over the number of vehicle deliveries Tesla would report was mainly based on the unusual procurement and logistics challenges that many companies with global supply chains encountered as economies reopened. But Tesla seems to have overcome these challenges well.
Keep in mind that Tesla says in its press release about these deliveries that they “should be viewed as slightly conservative, as we only count a car as delivered if it is handed over to the customer and all paperwork is complete. correct ”. Actual shipments, once properly counted, “could vary by up to 0.5% or more.”
Tesla’s ambitious full-year goals are within reach
When Tesla announced its fourth quarter 2020 deliveries, management set a significant target for 2021 deliveries. The company said it expected vehicle deliveries to increase by more than 50% of a year. year over year, on top of the 36% growth from last year.
By delivering around half a million vehicles last year, Tesla will need to deliver more than 750,000 vehicles in total this year to meet its targets. With more than 386,000 vehicles already delivered, Tesla only needs stable condition in the second half of the year. If its vehicle deliveries in the second half of 2021 were comparable only to those of the first half, this would translate into 772,000 deliveries.
In other words, barring unforeseen challenges, Tesla’s annual forecast is in the bag.