Tesla Q2 Deliveries Slump To 254,695 Amid Supply Chain, Pandemic Problems

Reuters2022-07-03

July 2 (Reuters) - Tesla Inc said on Saturday its vehicle deliveries fell to 254,695 in the second quarter, as a COVID-related shutdown in Shanghai hit its production and supply chain.

In the preceding quarter, the U.S. electric car maker delivered 310,048 vehicles globally.

Analysts had expected Tesla to report deliveries of 295,078 vehicles for the April to June period, according to Refinitiv data. Several analysts had slashed their estimates further to about 250,000 due to China's prolonged lockdown.

Tesla said it delivered 238,533 Model 3 compact cars and Model Y sport-utility vehicles, as well as 16,162 of its Model S and Model X vehicles to customers in the quarter.

Total production fell 15.3% to 258,580 vehicles from the first quarter. June 2022 was the highest vehicle production month in Tesla's history, the company said in a news release.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Leave a comment
746