The loss was compensated: 27 percent increase in Tesla shares

The loss was compensated: 27 percent increase in Tesla shares

Tesla shares, which reached their 52-week low in April, increased by 27 percent on a weekly basis.

Tesla has significantly reduced production of the Model Y due to falling demand in China. Additionally, the company is slowly reducing its workforce due to low sales.

Tesla, which had a bad start to the year, was all smiles. Tesla shares, which achieved a rapid rise, compensated for their losses in 2023.

Tesla shares closed Friday at $251.55, up 27 percent. Shares, which closed last year at $248.48, dropped to $138.80 in April.

The company's announcement of its second quarter delivery results was effective in the latest rise.

Although deliveries decreased 4.8 percent compared to last year, the decrease was less than the loss in the first quarter.

Hopes for the second half have blossomed for investors. In April, the company's shares fell to their 52-week low.

The poor sales performance in the first quarter, the company's layoffs, and the cancellation of plans for low-cost automobiles to be produced in the Texas factory triggered this decline.

Tesla will announce its second quarter financial results after the close on July 23.

According to Tesla's official figures, the electric car manufacturer produced a total of 410 thousand 831 vehicles in the second quarter of 2024.

While 386 thousand 576 units of this production were Model 3 and Model Y, 24 thousand 255 units were Model S,X, Cybertruck and others.

Tesla delivered 443 thousand 956 vehicles in this quarter. 422 thousand 405 units of the deliveries were covered by Model 3/Y, 21 thousand 551 units were covered by Model S,X and others.

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