An enormous cowboy boot is on display outside the Tesla Giga Texas manufacturing facility throughout the “Cyber Rodeo” grand opening party on April 7, 2022 in Austin, Texas.
Suzanne Cordeiro | AFP | Getty Images
Tesla just posted its second-quarter vehicle production and delivery numbers for 2022. Listed below are the important thing numbers:
- Total deliveries Q2 2022: 254,695
- Total production Q2 2022: 258,580
Delivery numbers, that are the closest approximation of sales reported by Tesla, fell just shy of analysts’ expectations.
Based on a consensus compiled by FactSet-owned Street Account, analysts were expecting deliveries of 256,520 vehicles for the quarter, which was marked by Covid restrictions, supply chain snarls, semiconductor chip and other parts shortages.
Last 12 months, Tesla delivered 201,250 vehicles within the second quarter, its first time delivering greater than 200,000 units in a three-month period. In the primary quarter of 2022, Tesla delivered 310,048 vehicles.
Today’s delivery numbers represented sales growth of 26.5% year-over-year, and a 17.9% decrease sequentially for Elon Musk’s electric vehicle enterprise.
The corporate has soft-guided to around 50% average annual growth, long-term, depending on manufacturing capability and other aspects.
In Tesla’s first-quarter shareholder deck, the corporate said, “We plan to grow our manufacturing capability as quickly as possible. Over a multi-year horizon, we expect to realize 50% average annual growth in vehicle deliveries.”
In China this quarter, Tesla needed to shut down or only allow partial operations at its Shanghai factory for weeks resulting from covid-related public health orders. (FactSet noted that some analysts’ projections were excluded from the StreetAccount consensus in the event that they didn’t take into consideration the Shanghai factory shutdown.)
Other supply chain snarls, worsened by Russia’s brutal invasion of Ukraine, also impacted Tesla and the broader auto industry throughout the quarter.
Individually, Tesla is grappling with the high costs of constructing out and beginning production at recent factories in Austin, Texas and near Berlin along with its Fremont, California and Shanghai plants. CEO Elon Musk has publicly lamented that the brand new factories are costing Tesla billions, but haven’t yet been capable of make enough vehicles and batteries to justify their costs.
As startups and legacy automakers offer more recent electric vehicles, Tesla’s share of the worldwide and domestic EV market is predicted to diminish but remain substantial.
