Tesla just posted Vehicle production and delivery figures for the second quarter of 2022. Here are the key data:
- Total shipments Q2 2022: 254,695
- Total production Q2 2022: 258,580
The delivery numbers, the next rough estimate of Tesla’s reported sales, fell close to what analysts were expecting.
According to a consensus compiled by FactSet-owned Street Account, analysts had expected 256,520 vehicles to be delivered for the quarter, which was marked by Covid restrictions, supply chain shortcomings and shortages of semiconductor chips and other parts.
last year, Tesla 201,250 vehicles were delivered in the second quarter, the first time that more than 200,000 units were delivered in a three-month period. Tesla delivered it in the first quarter of 2022 310,048 vehicles.
Today’s deliveries represent revenue growth of 26.5% year over year, down 17.9% sequentially for Elon Musk’s electric vehicle project.
The company has a soft forecast of about 50% of compound annual growth over the long term, depending on production capacity and other factors.
“We plan to expand our production capacity as soon as possible. Over a multi-year horizon, we expect 50% compound annual growth in vehicle deliveries,” the company told Tesla Shareholders Group in the first quarter.
In China this quarter, public health orders related to the virus forced Tesla to close or partially allow operations at its Shanghai factory for weeks. (FactSet notes that some analysts’ predictions were left out of the StreetAccount consensus when they didn’t account for the Shanghai plant closure.)
Other supply chains are faltering, exacerbated by Russia’s brutal invasion of Ukrainealso impacted Tesla and the broader auto industry during the quarter.
Regardless, Tesla is struggling with rising construction costs and ramping up production at new plants in Austin, Texas and near Berlin, as well as its plants in Fremont, California and Shanghai. CEO Elon Musk has publicly complained that so are the new factories It cost billions from TeslaHowever, they were not yet able to produce enough vehicles and batteries to justify their cost.
As startups and long-established automakers continue to unveil new electric cars, Teslas Share of global and domestic electric vehicle market It is expected to decrease but remains significant.
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