Tesla and Rivian Beat Delivery Expectations as Price Cuts Boost Electric Vehicle Sales

Tesla delivered a record 466,140 vehicles in the second quarter, exceeding analyst forecasts due to price cuts and tax incentives.
Rivian's stock rose over 17% after the company announced 12,640 deliveries in Q2, surpassing estimates.
Tesla's stock increased 6% in response to their delivery results, though some analysts warn margins may suffer from lower prices.
BYD, China's top EV brand, achieved a record 700,000 deliveries in Q2, nearly double last year's total.
Tesla and Rivian remain on track to meet their 2023 production targets of 1.8 million and 50,000 vehicles respectively.