Tesla’s Q2 sales surged from Iran-driven oil spikes, refreshed Model Y and YL demand, U.S. incentives, new markets, plus rising production.

A spike in gas prices due to the war in the Middle East appear to have given the EV industry a shot in the arm.

The company delivered more than 480,000 EVs globally, seemingly thanks to geographic expansion and cheaper versions of the Model 3, Model Y, and Cybertruck.

Deliveries outstripped production, suggesting Tesla has cleared some inventory.