Tuesday, November 29, 2022
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Tesla: Quarterly sales plummet

Tesla suffers a sharp drop in sales volume of electric cars during the second quarter of 2022. On an annualized basis, we note that Tesla has still managed to increase its growth despite a number of societal and digital difficulties, such as with its investment on Bitcoin, but when you look at the results for the first quarter, there was a rather substantial decline. The American company also expressed that last June was the most productive in its history.

Between April and June inclusive, Tesla produced 258,580 cars. For comparison: in the second quarter of 2021, the production volume was 206,421 units. Thus, the increase in production amounted to about 25.3%.

A total of 254,695 electric vehicles were delivered to end customers, which is 26.5% more than last year’s result (201,304 units). In total deliveries, Model S and X accounted for 16,162 units, Model 3 and Y – 238,533 cars. A year earlier, these values ​​were 1,895 and 199,409 respectively.

254,695 electric vehicles have been delivered by Tesla

Tesla would be able to ship 295,078 vehicles in three months. At the same time, a drop in production took place in this quarter, which therefore meant that deliveries naturally fell. In particular, in the first quarter of this year, Tesla produced 305,407 vehicles and shipped 310,048 vehicles. Thus, in the second quarter, there was a decrease of 15.3% and 17.9%. This draws attention, given that Tesla management planned to maintain electric vehicle production volumes at the previous quarter’s level at the end of the second quarter.

We note that the results were negatively influenced by difficulties beyond Tesla’s control, interruptions in the delivery of components and the suspension of factories related to health constraints. In particular, the shutdown of Chinese production in April due to COVID-19 had a strong impact on the company’s performance. Second quarter financial results will be available on July 20. We are waiting to see how the sequel unfolds for the brand.


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