What happened
On Friday, leading electric vehicle (EV) maker Tesla (TSLA +0.01%) announced that it had set new records for production and deliveries in 2021's second quarter. But the numbers weren't overly surprising compared to estimates. Tesla shares rose by as much as 3.3% early in the day's trading session, but pared those gains back as it progressed. Tesla was up by just 0.3% as of 12:06 p.m. EDT.
So what
The automaker delivered 201,250 vehicles in the quarter, making it the first three-month period in which it exceeded the 200,000 threshold. The vast majority of those were Model 3 sedans and Model Y compact SUVs. Only about 1% of deliveries were of the Model S or Model X. Tesla doesn't break down deliveries by geography, but it began shipping the Model Y from its Shanghai, China, plant in January.
Tesla Model 3. Image source: Tesla.
Now what
This marks the second consecutive quarter that Tesla has announced record deliveries. The previous record -- from 2021's first quarter -- was 185,000. Tesla counts deliveries as vehicles that have been transferred to the customer with all paperwork completed. The company said it produced more than 206,000 electric vehicles in the quarter. The results were slightly lower than analysts' average estimate, but those estimates covered a broad range due to uncertainty after CEO Elon Musk had warned that global shortages of semiconductors and other auto parts were causing production issues.
The company reiterated that in this report, saying: "Our teams have done an outstanding job navigating through global supply chain and logistics challenges." Investors Friday don't seem disappointed with the company's production growth -- particularly considering the ongoing supply chain issues.
