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Tesla's quarterly car deliveries top expectations despite coronavirus - Business Insider

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Tesla delivered more cars than investors expected last quarter, despite having to shut down its factory due to the coronavirus

Elon Musk's electric car company delivered 12,200 Model S and X's in the period ended March 31, and 76,200 Model 3 and Y's. Total production was 102,672.

Shares of Tesla spiked as much as 10% in late trading following the numbers' release. The company's stock price remained in the green this year as many markets sank around the world do to the coronavirus. Tesla shuttered its Fremont, California factory on May 23 after a scuffle with local authorities over whether or not its activities were "essential."

Still, Tesla says it had plenty of cash on hand to "successfully navigate an extended period of uncertainty," something many investors seem to agree with so far.

 

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