SINGAPORE (July 8): Tesla shares surged as a record quarter of deliveries alleviated the worst fears about demand for the Elon Musk-led company’s electric vehicles.

The Model 3 maker handed over 95,200 cars to customers in the three months ended June, exceeding the previous best mark set in the last quarter of 2018. Tesla’s delivery count exceeded all but one analyst’s estimate in a Bloomberg News survey.

Tesla shares jumped as much as 7.1% during US pre-market hours. The stock had fallen 33% for the year through the end of regular trading in New York on July 2, in part due to demand concerns that the company’s billionaire CEO has repeatedly disputed.

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