Tesla Inc.'s (NASDAQ:TSLA) Gigafactory near Berlin in Germany has said that it would adjust its production figures, anticipating a surge in demand during the third and fourth quarters of the year.
Check out the current price of TSLA stock here.
Strong Sales Figures
The news was shared by Tesla's head of production in Germany, André Thierig, on Sunday outside the Gigafactory in Grünheide outside Berlin in a statement to local news agency Deutsche Presse-Agentur (DPA), cited by Reuters. "We currently have very good sales figures and have therefore revised our production plans for the third and fourth quarters upwards," Thierig said.
Thierig also said that the company has received "positive signals" from the various markets the factory supplies to. It's worth noting that the factory serves over 37 markets across the globe, including Europe, the Middle East and Taiwan.
Tesla's Berlin Battery Incident, Falling European Sales
Tesla's factory in Berlin had recently reported a fire incident, which led to the factory being evacuated after battery cells fell from the conveyor belt onto the floor, triggering the incident. No injuries or fatalities were reported in the incident.
Despite Thierig's comments, however, Tesla's sales in Europe have declined, with the EV giant reporting a 40.2% drop in Europe during August. Tesla's slip has also coincided with BYD Co. Ltd.'s (OTC:BYDDY) (OTC:BYDDF) rise in the region.
Tesla's Stock Surges Despite US Market Share Drop
The company's stock surged following reports that suggested Elon Musk's automaker was set to beat analyst expectations for Q3 deliveries as experts like Dan Ives reiterate their bullish stance on TSLA stock.
However, experts like Ross Gerber, on the other hand, have cautioned the surge, saying that the company's sales rush was driven by the fast-approaching September 30 deadline for the $7,500 EV credit.
Elsewhere, Tesla's market share in the U.S. has dropped to below 40% for the first time since 2017, signaling a decline in units sold. Tesla has also reportedly discontinued the Cybertruck's RWD Long Range variant.
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