Electric car maker Tesla on Sunday delivered a record number of cars in the second quarter of the year, beating market estimates after it ramped up discounts and incentives.
The Elon Musk company delivered 466,000 cars in the three months ending June 30.
Nine analysts polled by Refinitiv expected Tesla to deliver 445,000 vehicles on average, 439,875 vehicles at the lowest estimate and 450,000 at the highest estimate, according to Reuters.
The largest car manufacturers in the world by market value delivered 254,695 cars in the second quarter of last year.
Tesla is expected to achieve record sales again in China, its second largest market after North America, despite competition from market leader BYD.
Tesla achieved a series of gains in the field of fast charging for electric cars by concluding agreements with companies such as Ford Motor and General Motors, and manufacturers of fast charging equipment agreed to adopt the company’s standards for charging in North America.
The company has increased rebates on inventory vehicles to a range of $1,600 to $7,500, and has made every Model 3 eligible for a full $7,500 federal credit in the United States starting in June.
Tesla cut prices globally this year by up to 20%, after delivering less cars in 2022 than Wall Street estimates.
The company said total production rose 85.5%, to nearly 480,000 vehicles, in the three months ended June 30, compared with a year earlier.
The company delivered 446,915 small cars (Model 3) and sports cars (Model Y), in addition to 19,225 luxury cars (Model X) and (Model S).
