Tesla's streak of deliveries stalled in second quarter
For the first time, electric vehicle manufacturer Tesla reports a quarterly drop in the number of car deliveries compared to the previous quarter.
In the three months ending in June, Tesla delivered 255,000 vehicles to customers, down from 310,000 in the first quarter, the company reports, according to the Wall Street Journal.
The reduction in deliveries can be ascribed to a production halt at Tesla’s biggest factory, which is located in Shanghai, China, supply chain bottlenecks and delays in connection with the opening of two new factories.
However, deliveries in the latest quarter were higher than in Q2 2021, when Tesla turned over 201,304.
Many analysts have in recent weeks lowered their estimates for deliveries following the temporary shutdown of the Shanghai factory as a result of local Covid-19 restrictions.
Tesla has also faced difficulties getting two new factories in Germany and Texas up and running. Chief Executive Officer Elon Musk has referred to the factories as ”gigantic money incinerators” due to the problems.
Analysts increasingly doubt an announcement by Musk from April that the company would produce more than 1.5 million vehicles in 2022. This is a 60% increase from 2021. Analysts now expect it will be an uphill struggle for Tesla to reach 1.4 million this year, writes WSJ.
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