Tesla: Delivered 254,595 electric vehicles in the second quarter of the year

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Tesla released its second quarter vehicle production and delivery numbers for 2022. It totaled 254,595 deliveries and produced 258,580 vehicles.

The delivery numbers, which are the closest approximation of sales reported by Tesla, fell slightly short of analysts’ expectations.

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Analysts had expected deliveries of 256,520 vehicles for the quarter, which was marred by coronavirus restrictions, supply chain disruptions, shortages of semiconductors and other components, according to data compiled by FactSet-owned firm Street Account.

Last year, Tesla delivered 201,250 vehicles in the second quarter, the first time it delivered more than 200,000 units in a three-month period. In the first quarter of 2022, Tesla delivered 310,048 vehicles.

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Today’s delivery numbers represent sales growth of 26.5% year-over-year and a decline of 17.9% sequentially.

In China this quarter, Tesla was forced to close or allow only partial operation of its Shanghai factory for weeks due to health restrictions related to the coronavirus.

Other supply chain disruptions, exacerbated by Russia’s violent invasion of Ukraine, also affected Tesla and the broader auto industry during the quarter.

Separately, Tesla is struggling with the high cost of building and starting production at new factories in Austin, Texas, and near Berlin, in addition to factories in Fremont, California, and Shanghai.

CEO Elon Musk has publicly complained that the new factories are costing Tesla billions, but have yet to produce enough vehicles and batteries to justify the cost.

As startups and legacy automakers offer more new electric vehicles, Tesla’s share of the global and domestic electric vehicle market is expected to decline but remain significant.

Source: Capital

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