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NEW YORK — Tesla car sales rose over the past three months for the second straight quarter in a sign the worst of the damage from boycotts and rivals stealing market share could be behind it.
The electric vehicle maker run by Elon Musk reported Thursday that it delivered 480,126 of cars, much higher than the 384,122 from a year ago, as Europeans furious at Musk’s embrace of far-right political candidates began buying again.
The second quarter sales figure came in higher than analysts expectations of 401,000, according to FactSet estimates.
The company didn’t break out figures for various parts the world, but an earlier report from European trade groups reported big sales increases in Europe in May, including a 300% rise in Germany.
The company is pinning its sales hopes on cheaper Model Y and Model 3 models introduced last year. It also expects Europeans will clamor for its cars as more countries approve use of its driver assistance feature called Full Self-Driving (Supervised). The Netherlands approved the system, available in the U.S., followed by Estonia, Greece and Lithuania.
Sales fell last year amid protests at showrooms in Europe and the U.S., a Musk figure burned effigy in Milan and vandalism against Tesla drivers.
As the numbers plunged last year, Musk managed to shift the narrative about Tesla’s future away from sales of cars and more to the those of robots and automated driving system and self-driving robotaxis.
Judging from the stock price, investors approve. Shares have fully recovered from a deep dive early last year, rocketing more than 40% in the past 12 months.
NEW YORK — Tesla car sales rose over the past three months for the second straight quarter in a sign the worst of the damage from boycotts and rivals stealing market share could be behind it.
The electric vehicle maker run by Elon Musk reported Thursday that it delivered 480,126 of cars, much higher than the 384,122 from a year ago, as Europeans furious at Musk’s embrace of far-right political candidates began buying again.
The second quarter sales figure came in higher than analysts expectations of 401,000, according to FactSet estimates.
The company didn’t break out figures for various parts the world, but an earlier report from European trade groups reported big sales increases in Europe in May, including a 300% rise in Germany.
The company is pinning its sales hopes on cheaper Model Y and Model 3 models introduced last year. It also expects Europeans will clamor for its cars as more countries approve use of its driver assistance feature called Full Self-Driving (Supervised). The Netherlands approved the system, available in the U.S., followed by Estonia, Greece and Lithuania.
Sales fell last year amid protests at showrooms in Europe and the U.S., a Musk figure burned effigy in Milan and vandalism against Tesla drivers.
As the numbers plunged last year, Musk managed to shift the narrative about Tesla’s future away from sales of cars and more to the those of robots and automated driving system and self-driving robotaxis.
Judging from the stock price, investors approve. Shares have fully recovered from a deep dive early last year, rocketing more than 40% in the past 12 months.
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