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Why Tesla Stock Jumped Thursday

By Daniel Sparks – Jun 6, 2019 at 1:10PM

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The electric-car maker is reportedly aiming to deliver 33,000 vehicles or more in North America alone during the final month of Q2.

What happened

Shares of electric-car maker Tesla (TSLA 11.00%) jumped on Thursday, rising as much as 7.3%. As of 12:43 p.m. EDT, the stock was up about 5%.

The stock's gain is likely due to a report that vehicle deliveries for the electric-car company are going well in North America, potentially setting the company up for a record quarter.

Tesla's Model S, 3, X, and Y

Image source: Tesla.

So what

In the first two months of Q2, Tesla delivered 33,000 vehicles in North America, Electrek reported Wednesday night. The electric car-focused news website said this info was leaked from a call executives held with sales and delivery managers at the company.

Now the company is aiming to deliver 33,000 more vehicles in the final month of the quarter, Electrek reports. To encourage its sales and delivery teams to hit this target, the company is offering performance bonuses.

Now what

Such robust deliveries in North America would likely position Tesla for record quarterly deliveries when combined with the company's deliveries outside of North America during the period.

Tesla guided for 90,000 to 100,000 deliveries in its second quarter. The company's previous quarterly record for deliveries was just below 91,000 vehicles. Deliveries above this level in Q2 would represent more than 120% year-over-year growth.

Daniel Sparks owns shares of Tesla. The Motley Fool owns shares of and recommends Tesla. The Motley Fool has a disclosure policy.

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