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Tap Tesla's Better-Than-Expected Q2 Deliveries With These ETFs

Tesla Inc. (NASDAQ: TSLA) rose more than 10% on Jun 2 to its highest level in six months following stronger-than-expected vehicle delivery numbers for Q2. The numbers point to improved demand that may help ease concerns around excess inventory for its flagship Model 3/Y. Investors seeking to tap the strong growth should buy ETFs having a substantial allocation to this luxury carmaker. These include Direxion Daily TSLA Bull 1.5X Shares (NASDAQ: TSLL), MeetKevin Pricing Power ETF (ARCA:PP), Consumer Discretionary Select Sector SPDR Fund (ARCA:XLY), Simplify Volt Robocar Disruption and Tech ETF (ARCA:VCAR) and ARK Innovation ETF (ARCA:ARKK). This leading electric carmaker delivered 443,956 (422,405 Model 3/Y and 21,551 other models) cars worldwide in the second quarter. Though it is down 4.8% from the year-ago quarter, delivery numbers were better than the 436,000 that analysts had expected. The annual drop in sales reflects the increased competition in the electric vehicles market. The sales of electric vehicles were at a slower pace, which resulted in investors demanding each car sold be more profitable than before. Tesla produced 410,831 (386,576 Model 3/Y, and 24,255 other models) vehicles during the quarter. Tesla provided $2,000 off the prices of three of its five models in the United States in April. It reduced prices for Model Y, its most popular model and the top-selling electric vehicle in the United States, Model X and Model S. For the first half of the year, Tesla delivered 830,766 electric vehicles worldwide, beating China's BYD, which sold 726,153 electric vehicles. The strong delivery numbers ...