CAPE TOWN: Tesla Motors gained the most since April after the electric-car maker beat its car-sales forecast for the second consecutive quarter with a 52-percent surge in the three months through June.
The shares rose 4 percent to $280.02 at the close in New York for the biggest daily advance since April 27. Tesla has climbed 26 percent this year, outpacing the Russell 1000 Index’s 1.3 percent increase.
Tesla delivered 11,507 Model S sedans in the second quarter, according to a statement of preliminary figures on Thursday. The Palo Alto, California-based company predicted in May that it would sell 10 000 to 11 000 of the cars, its only model, during the period.
The preliminary total brings first-half sales to 21 552, less than 40 percent of Tesla’s full-year target of 55 000 vehicles. Output and deliveries are projected to increase with the introduction of the Model X sport utility vehicle this quarter.