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Tesla shares jump 7% after record deliveries of E-cars in second quarter

Tesla delivered 95,200 vehicles in the second quarter, beating analysts' average estimates, but did not comment on when it would return to profitability


Tesla Inc shares opened nearly 7% higher on Wednesday after Chief Executive Officer Elon Musk made good on his promise of delivering record number of electric cars in the second quarter, quelling fears about demand for its sedans and SUVs. Wall Street analysts and investors have raised doubts about demand and the Silicon Valley automaker's ability to sort out recent delivery issues, particularly after a disastrous first quarter when deliveries slumped 31%. "We are increasingly comfortable that they should reflect an even better in the third quarter, and probably their ...

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First Published: Wed, July 03 2019. 20:32 IST