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Tesla EV deliveries fall practically 18% in second quarter following China manufacturing facility shutdown : shares

by Index Investing News
July 3, 2022
in Stocks
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Tesla deliveries fall nearly 18% in second quarter following China factory shutdown

Tesla delivered 254,695 electrical autos globally within the second quarter, an almost 18% drop from the earlier interval as provide chain constraints, China’s prolonged COVID-19 lockdown and challenges round opening factories in Berlin and Austin took their toll on the corporate. That is the primary time in two years that Tesla deliveries, which had been 310,048 within the first interval this yr, have fallen quarter over quarter. Tesla deliveries had been up 26.5% from the second quarter final yr. The quarter-over-quarter discount is according to a broader provide chain drawback within the trade. It additionally illustrates the significance of Tesla’s Shanghai manufacturing facility to its enterprise. Tesla shuttered its Shanghai manufacturing facility a number of occasions in March as a result of rising COVID-19 circumstances that prompted a authorities shutdown.

The corporate stated Saturday it produced 258,580 EVs, a 15% discount from the earlier quarter when it made 305,407 autos. Like in different quarters over the previous two years, a lot of the produced and delivered autos had been Mannequin 3 and Mannequin Ys. Solely 16,411 of the produced autos had been the older Mannequin S and Mannequin X autos. Tesla stated in its launched that June 2022 was the very best automobile manufacturing month in Tesla’s historical past. Regardless of that milestone, the EV maker in addition to different firms within the trade, have struggled to maintain apace with demand as provide chain issues persist.



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