Tesla Model 3 Gets "5 Stars" In European Crash Test

Jeannie Matthews
July 7, 2019

The website estimates that Tesla sold 67,650 Model 3s in the United States through June, over seven times the sales generated by the next best-selling electric vehicle, Tesla's Model X SUV.

The electric auto and solar panel company said it handed over 95,200 vehicles to customers worldwide, breaking the previous record of 90,700 set in the fourth quarter of past year.

Tesla stock climbs after setting new records for production and delivery in Q2. The US$3,750 USA federal tax credit buyers were eligible for was cut by half beginning July 1, and deliveries tailed off the last time the incentive shrank.

Osborne expects Tesla to post a 68-cent-per-share loss in the second quarter and a $3.77 per share loss for the whole year. Tesla also left out of its statement any mention of its full-year forecast for 360,000 to 400,000 deliveries, a projection it re-affirmed in its release a quarter ago.

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Another mix factor to note is that the USA accounted for roughly 70% of sales in the second quarter vs. less than 50% in Q1.

This news follows Tesla on Tuesday reporting new production and delivery records during the second quarter, including record deliveries of 95,200 Model S, 3 and X EVs.

Those challenges are likely to come from competition entering the market as legacy auto manufacturers enter the electric vehicle market, especially at the premium end. Thanks to the initial success of the Model S, Tesla was able to prove that electric cars didn't have to be clunky eyesores. Unit deliveries are used by analysts as a proxy for sales.

"The Tesla Model 3 achieved one of the highest Safety Assist scores we have seen to date". Investors are concerned the cheaper Model 3 is cannibalizing the company's more lucrative vehicles. "Once solid estimates for Tesla's quarterly production and delivery numbers are in, short sellers and critics jump to the next quarter and typically claim that delivery will fall off tremendously because pent-up consumer demand has been exhausted and sustainable new demand is going to be much more limited". Only 7,400 cars were still listed as in transit to buyers, down from 10,600 at the end of the first quarter. The Model 3's lack of combustion engine and the battery pack's low center of gravity also improve the car's structural integrity, further protecting occupants in the event of a crash.

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