Giant cowboy boots are on display outside the Texas Texas manufacturing facility during the “Cyber Rodeo” Grand Opening Party on April 7, 2022 in Austin, Texas.
Sae Yamamoto Cordeiro | AFP | Getty Images
Tesla Just posted Vehicle production and delivery numbers for the second quarter of 2022. The key numbers are:
- Total number of deliveries in the second quarter of 2022: 254,695
- Total production in the second quarter of 2022: 258,580
The number of deliveries closest to sales reported by Tesla was shy to analysts’ expectations.
Analysts expected 256,520 vehicles to be delivered quarterly, according to a consensus compiled by FactSet’s Street Account. This was characterized by Covid’s limitations, supply chain growls, semiconductor chips and other component shortages.
Today’s deliveries increased 26.5% year-on-year, while Elon Musk’s electric vehicle ventures declined 17.9%.
The company soft-guides to about 50% of average annual growth in the long run, depending on manufacturing capacity and other factors.
In Tesla’s first-quarter shareholder deck, the company “will expand its manufacturing capacity as quickly as possible. It expects a compound annual growth rate of 50% over a multi-year period.” I am saying.
In China this quarter, Tesla had to close its Shanghai plant or allow partial operations for several weeks due to a Covid-related public health order. (FactSet noted that some analysts’ predictions were excluded from the Street Account consensus if they did not consider the closure of the Shanghai factory.)
Howls of other supply chains, Russia’s brutal invasion of UkraineIt also affected Tesla and the broader automotive industry during the quarter.
Separately, Tesla is working on high costs to build and start production at new plants near Fremont, California and Shanghai, as well as Austin, Texas and near Berlin. CEO Elon Musk has a new factory Billions of Tesla costsHowever, we have not yet been able to make enough vehicles and batteries to justify their costs.
Tesla’s share of the global and domestic EV markets is expected to decline, but remains substantial, as start-ups and legacy automakers offer more new electric vehicles.