Tesla sets quarterly record for deliveries

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FILE – In this Sunday, May 19, 2019, file photo, a line of unsold 2019 Model 3 sedans sits at a Tesla dealership in Littleton, Colo. Tesla is close to setting a quarterly record for deliveries, but the company is having trouble shipping vehicles to the right places as the second quarter comes to a close, CEO Elon Musk told workers in an internal memo. (AP Photo/David Zalubowski, File)

(AP) — Tesla overcame logistics problems to set a quarterly record for deliveries from April through June. Now Wall Street is focusing on whether it will translate into profits.

The electric car and solar panel company said it handed over 95,200 vehicles to customers worldwide, breaking the previous record of 90,700 set in the fourth quarter of last year.

The company rebounded from a dismal first quarter when it delivered only 63,000 of it’s Model S, X and 3 vehicles, a 31% drop from last year’s fourth quarter.

But many analysts question whether the record sales will turn into profits for the struggling company, and they’re raising questions about demand for Tesla vehicles and its long-term profitability.

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