Tesla Sales Surge, But at What Cost?
By: Liam Denning
Source: Bloomberg
Price cuts work — but only up to a point. Which is about all one can glean from Tesla Inc.’s latest quarterly sales numbers, announced Sunday. The struggle between growth and margins, which defined the first half of 2023, has yet to be resolved.
Having delivered about 466,000 vehicles, Tesla beat the consensus estimate by 4%. Deliveries so far this year are up 58% compared with the same period in 2022 and, at the current run rate, look on track to meet Tesla’s guidance of about 1.8 million this year (though more would be needed to hit the two million upside case Chief Executive Elon Musk has mentioned). For Tesla’s never-small fan club, this should be enough to support the stock on a thinly traded pre-July 4 Monday.