Tesla surprises by selling cars better than expected

Tesla sales, hit by a sharp recession earlier this year, may be showing signs of recovery. 

Elon Musk’s electric carmaker delivered about 444,000 vehicles in the three months ended June 30, up 14% from the previous quarter. 

Tesla is experiencing declining demand, as rising borrowing costs burden customers and increase competition. 

It has repeatedly cut prices in an attempt to win back customers, as well as introducing cheaper credit schemes. 

The company started selling its cyber trucks last year but that is only a small part of its business. Its mainstream Model 3 sedan was first introduced in 2017. 

Shares of the company rose more than 6% in Tuesday morning trading following the news.