Tesla's Second-Quarter Deliveries Beat Estimates as Price Cuts Boost Sales.

Tesla's second-quarter vehicle deliveries beat estimates on Tuesday driven by the electric-vehicle maker's price cuts and incentives that helped stimulate demand.

The world's most valuable automaker's shares surged over 9% in morning trading.

Tesla delivered 422,405 Model 3 and Model Y and 21,551 units of other models, which include the Model S sedan, Cybertruck and Model X premium SUV. It produced 410,831 vehicles during the April-June period.

The EV maker handed over 443,956 vehicles in the three months to June 30, 4.8% lower than a year earlier and up 14.8% from the preceding quarter.

Wall Street on average had expected Tesla to deliver 438,019 vehicles, according to 12 analysts polled by LSEG.