Tesla reported a decline of only 5pc in Q2 sales, despite its production facility being shut for almost 2 months. 

 

The company produced 82,272 units in the second quarter this year, a 5pc decline from 87,048 units in Q2 of 2019. Sales for Q2 stood at 90,650 units as compared to 95,200 units in the prior year period. In comparison, GM and FCA reported a decrease of almost 40pc in sales this quarter. 

 

According to media reports, Elon Musk, Tesla’s founder and chief executive officer, commended his staff in an email for amazing execution in such difficult times. The company’s Fremont, California, site was shut from March 23 through May 17 due to the COVID-19-related lockdown. Musk added that production is now in line with pre-pandemic levels. 

 

On July 1, Tesla was valued at $208bn – surpassing Toyota—to become the world’s most valuable automaker.

 

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