Tesla Beats Q2 Delivery Forecasts with 480,126 Vehicles

Tesla reported Q2 deliveries of 480,126 vehicles on July 2, well above the 406,000 consensus and marking a 25% year-over-year increase. The strong print followed a June 25 announcement that Berlin Gigafactory output would rise 20% to 7,500 vehicles weekly from October with 1,000 new hires. Morgan Stanley lifted its forecast to 413,000 on June 29 after Europe registrations jumped 108% YoY in May and China demand stabilized. Earlier expansion signals included a fifth experience center opened in Hyderabad on June 22. Shares rose modestly on the beat ahead of full Q2 results due July 22.