By Derick Lila PV Buzz
Tesla’s market cap has exploded and it has become the most valuable automaker in the world.
The company smashed through milestones, surpassing auto giants like Toyota in terms of market value. Shares are up a staggering 26% this week — and then there are the Q2 delivery numbers. Tesla crushed those as well even in the middle of a pandemic.
Tesla delivered more vehicles than expected this quarter — a total of 90,650. Of these deliveries, about 80,000 were Model 3s and Model Ys.
Tesla usually doesn’t break down how many of the deliveries came from the gigafactory factory in Shanghai China versus how many came out of the Tesla plant in Fremont California. Analysts were not expecting Tesla to deliver more than 78,000 vehicles this quarter because the plant in California was basically shut down for five or six weeks because of COVID-19.
Nonetheless, Elon Musk and his team were able to not only meet expectations but exceed them by a wide margin. Now, this sets up the question of whether or not Tesla can hit its guidance of delivering a half-million vehicles this year.
In order to do that, Tesla will have to deliver at least 322,000 vehicles over the next six months — challenging, not impossible — but definitely challenging.
