Tesla experienced a 6.9% increase in its share value, which was partly influenced by better-than-anticipated second-quarter delivery and production figures. These figures, disclosed in the automaker's report are considered as the most accurate approximation of the company's sales and are closely monitored by analysts and shareholders. Analysts had projected 445,925 deliveries for the period ending June 30, 2023. However, Tesla surpassed this estimate by delivering 466,140 vehicles for the second quarter of 2023, exceeding expectations by more than 20,000 cars. The increase in deliveries was driven by various factors, including incentives and discounts offered to buyers in the first half of the year, as well as a $7,500 federal tax credit provided under the Inflation Reduction Act in the U.S. Since the beginning of the year, Tesla shares have risen by 127%, rebounding from a challenging performance in 2022 that had pushed them towards historically low levels.
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