Tesla reports record quarter for sales

Tesla announced on Sunday that its worldwide deliveries rose 83% from April to June.

This was a record quarter with more than 466,000 vehicles delivered, and the boost was likely due to steep price cuts, The Wall Street Journal reported, with one example being the Model Y SUV, which started at $65,990 in early January and is now at $50,490.

Tesla is the world’s No. 1 seller of electric vehicles and has been aiming for 50% annual delivery growth on average. The company also revealed that in the second quarter, it produced 479,700 vehicles.

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From January to June, Tesla’s shares more than doubled, and ended June at $261.77; this is below the stock’s peak of more than $400 a share in November 2021.

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