The company also managed to build more than 200,000 cars over the past three months despite those enormous headwinds. The increase in the number of vehicles produced and sold more than doubled the number from a year ago, when the pandemic caused Tesla to shut its factories. But orders and deliveries were also up modestly from the first quarter of this year, similar what was reported Thursday by other automakers.
Tesla also has raised car prices to deal with rising raw material costs, which is also a problem across the industry. "Overall, this quarter was an impressive performance from Musk & Co. and now with a strong second half performance should be able to hit about 900,000 vehicles for the year, which was a major stretch goal to kick off this year," said Ives in a note to clients."China and Europe had strong months of May/June we believe, which were key this quarter."
Volkswagen has passed Tesla in EV sales in numerous European markets, and Ford's new Mustang Mach-E has been taking share from Tesla, according to analysis by Morgan Stanley. Ford sold 13,000 of the model in the US since deliveries started earlier this year.
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