Tesla (TSLA) Q2 2022 Vehicle Production and Delivery Numbers

A giant cowboy boot is displayed outside the Tesla Giga Texas manufacturing facility during the “Cyber ​​Rodeo” grand opening party on April 7, 2022 in Austin, Texas.

Susana Cordeiro | AFP | fake images

Tesla just published its second-quarter vehicle production and delivery numbers for 2022. Here are the key numbers:

  • Total deliveries Q2 2022: 254,695
  • Total production Q2 2022: 258,580

The delivery figures, which are the closest approximation to Tesla’s reported sales, fell just shy of analysts’ expectations.

According to a consensus compiled by FactSet-owned Street Account, analysts expected deliveries of 256,520 vehicles for the quarter, which was marked by Covid restrictions, supply chain grunts, shortages of semiconductor chips and other parts.

Last year, Tesla delivered 201,250 vehicles in the second quarter, the first time it delivered more than 200,000 units in a three-month period. In the first quarter of 2022, Tesla delivered 310,048 vehicles.

Today’s delivery figures represented a 26.5% year-over-year sales growth and a 17.9% sequential decline for Elon Musk’s electric vehicle company.

The company has soft guidance of around 50% average annual growth, long-term, depending on manufacturing capacity and other factors.

On Tesla’s Q1 shareholder platform, the company said: “We plan to increase our manufacturing capacity as quickly as possible. Over a multi-year horizon, we expect to achieve 50% average annual growth in vehicle deliveries.”

Read more about electric vehicles from CNBC Pro

In China this quarter, Tesla had to close or only allow partial operations at its Shanghai factory for weeks due to Covid-related public health orders. (FactSet noted that some analysts’ projections were excluded from the StreetAccount consensus if they did not take into account the Shanghai factory closure.)

Other supply chain entanglements, made worse by Russia’s brutal invasion of Ukraine, also hit Tesla and the broader auto industry during the quarter.

Separately, Tesla is grappling with the high costs of building and starting production at new factories in Austin, Texas and near Berlin, in addition to its Fremont, California and Shanghai plants. CEO Elon Musk has publicly lamented that the new factories are costing Tesla billions, but have yet to make enough vehicles and batteries to justify their costs.

As startups and legacy automakers offer more new electric vehicles, Tesla’s share of the global and domestic electric vehicle market is expected to decline but remain substantial.

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