Tesla Expected to Report Over 200,000 Vehicle Sales in Q2, Say Analysts
On Wednesday, MarketWatch reported that analysts polled by FactSet estimate Tesla (TSLA) will deliver 207,000 vehicles in this year’s second quarter, – accounted for by as many as 114,00 Model 3 sedans, 78,000 Model Y compact crossover SUVs, and the rest made up of the company’s Model S and X units.
The news comes amid growing competition in the global auto market, especially in the world’s largest auto market of China – home to electric automakers like NIO and Xpeng Motors, among a slew of others.
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With its quarterly sales and production reports expected to be released on Friday, the company has also had trouble staying favorable in the public eye in China’s auto market in recent months.
But a highlight was Tesla delivering its highly anticipated Model S Plaid sedan, which is now the fastest production car ever made, and also a recent winner at the Pikes Peak Hill Climb race.
In March, the Chinese military banned its personnel from using Tesla’s cars due to privacy concerns. Just following the incident, Tesla CEO Elon Musk praised the country, before the company went on to announce multiple privacy security updates, including the establishment of a local data storage site to ensure privacy for all in-cabin and external footage captured inside its cars.
As of writing, shares of Tesla are trading at $677, down 0.34% for the day.