Tesla Inc set a record for quarterly vehicle deliveries in a triumphant response to months of questions about demand for its luxury electric cars, sending shares up 7% after hours on Tuesday.
In the second quarter, Tesla achieved record production of 87,048 vehicles and record deliveries of approximately 95,200 vehicles. The company delivered 77,550 Model 3s in the quarter. In addition, Tesla said it made significant progress streamlining its global logistics and delivery operations at higher volumes, enabling cost efficiencies and improvements to its working capital position.
Chief Executive Officer Elon Musk has repeatedly said Tesla could deliver a record number of cars in the second quarter, beating the 90,700 it sent to customers in the final quarter of last year.
"Orders generated during the quarter exceeded our deliveries, thus we are entering Q3 with an increase in our order backlog. We believe we are well positioned to continue growing total production and deliveries in Q3," Tesla said.