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Tesla Vehicle Deliveries Beat Estimates, Spark Stock Rally

  • Company handed over 88,400 vehicles in the first quarter
  • Musk introduced ‘touchless’ way of getting cars to customers
Photographer: Sam Hall/Bloomberg
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Tesla Inc. reported early-year deliveries fell less than expected from record levels reached late last year, sending shares climbing as much as 13%.

Tesla handed over 88,400 vehicles worldwide in the first quarter, down 21% from the last three months of 2019. But the total, released Thursday, beat analysts’ average estimate for about 78,100. The carmaker’s stock traded up 10% to $500.03 as of 9:48 a.m. Friday in New York.