Tesla delivered around 2.5 Lakh electric vehicles in 2nd quarter this year

According to a consensus analysis compiled by the FactSet-owned Street Account analysts, they were anticipating deliveries of 256,520 cars for the quarter. The period was characterized by Covid restrictions as well as supply chain delays. electronic chip, and various component shortages.

In the year prior, Tesla delivered 201,250 vehicles during the second quarter. It was the company’s first time that it has delivered over 200,000 vehicles over three months. The first quarter in 2022 Tesla was able to deliver the equivalent of 310,048 vehicles.

The delivery figures today showed sales rise of 26.5 percent year-over-year. There was also the result was a 17.9 percent decrease in the next quarter for Elon Musk’s electric car venture.

The company is soft-guided to about 50% growth per year in the long term, based on the capacity of its manufacturing facility and other variables.

In the company’s shareholder deck for the first quarter it stated “We are aiming to expand the capacity of our manufacturing facility as fast as we can. In the next few years we are expecting to reach 50% growth in annual average in the number of vehicles we sell.”

This quarter, in China the quarter ended in March, Tesla had to shut down or allow only partial activities at the Shanghai factory for several weeks because of covid-related health orders. (FactSet reported that some analysts’ forecasts were removed in the StreetAccount consensus when they didn’t consider the Shanghai factory’s closure.)

Other supply chain problems which were exacerbated by the brutal Russian attack on Ukraine have also had a negative impact on Tesla and the entire automotive industry in the quarter.

Additionally, Tesla is grappling with the costs associated with setting up and establishing production at its new production facilities located that are located in Austin, Texas and near Berlin in addition to its Fremont, California and Shanghai factories. The company’s CEO Elon Musk has publicly complained his new facilities have been running Tesla billions but they have not yet produced enough vehicles or batteries enough to justify their expenses.

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