Tesla delivered 90,650 cars to customers amid the coronavirus pandemic

Tesla delivered 90,650 cars to customers amid the coronavirus pandemic
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Tesla delivered 90,650 cars to customers during the quarter amid the coronavirus pandemic. This marks a 5% decline from a year ago.

The Covid-19 pandemic has hit the sales and production of Tesla, but it was not as badly hit as other automakers.

Tesla’s second-quarter sales increased a little from the 88,400 cars it produced in the first quarter.
However, production remained low, falling 20% from the first quarter, as Tesla’s factory in Fremont, California, was shut for a couple of months.
CEO Elon Musk did not agree to closing businesses during the pandemic. He described stay-at-home orders “fascist” in a call with investors in late April. Tesla also filed a lawsuit to have its factory operate again in mid-May.
Tesla’s stock remained up 6% in premarket trading before the sales and production release. Tesla is considered the most valuable automaker in the world even possessing only a fraction of the sales of the other automakers. Shares increased by 168% this year, through Wednesday’s close.

Car sales

Unlike Tesla, other car companies are not faring well due to the effects of coronavirus lockdowns and low demand for travel.

US car sales fell by more than 30% in the second quarter. This is deemed the worst decline in sales since the Great Recession and auto bankruptcies in 2009.

Major automakers announced over 30% decline in US sales in the second quarter, the biggest plunge in sales since the Great Recession and the auto bankruptcies of 2009.

The quarterly sales of several of the top automakers were released Wednesday. The weeks of pandemic-forced dealership closures made a negative impact.
Job losses also affected sales, with limiting spending money and mass work-from-home measures that halted commutes for a long time. Moreover, the closure of auto plants for much of the quarter narrowed the supply of new vehicles at the operating dealerships.