Beijing time, July 21 ( Beijing time ) – Tesla told its employees that the current quarter is aiming for the best delivery ever, according to people familiar with the matter. In the second quarter, Tesla, like most other automakers, was badly affected by the new crown. Still, Tesla did relatively well, with deliveries down only 5 percent from a year earlier, while most other automakers saw deliveries fall by 30 percent or more.
In the third quarter, Tesla struggled to set a new delivery record, despite the huge impact of the outbreak on many markets.
Tesla set an all-time high in the fourth quarter of 2019, delivering 112,000 vehicles.
Production at Tesla’s Shanghai super plant has increased significantly since the fourth quarter of 2019, which will help Tesla meet its production targets, while production of model Y models at its Fremont, California, plant, will continue to operate for most of the quarter (it may be temporarily closed later this month for upgrades).
On the demand side, Tesla has taken several steps that should increase demand in the current quarter to accommodate higher capacity.
In May, Tesla lowered the price of the Model 3 model, which remains the company’s best-selling car and now starts at just $38,000 in the U.S.
In addition, Tesla recently cut the price of the basic Model Y model and launched a rental service for that model over the weekend. Both initiatives will boost sales of Model Y.
As of Monday’s close, Tesla’s shares were up 9.47 percent at $1,643, giving it a market capitalization of $304.7 billion.