Tesla (TSLA) announces just over 250,000 deliveries – its first down quarter in a long time

Tesla announces its second quarter (Q2) 2022 production and delivery results today and confirmed just over 250,000 deliveries – its first down quarter in a long time.

While most of the auto industry saw a significant decline in deliveries in 2020 due to the pandemic and subsequent chip shortage, Tesla managed to grow at an impressive rate. In fact, Tesla had nine quarters of delivery growth in a row since 2020, making the company completely unique in the auto industry for volume producers.

The automaker managed to navigate both restrictions and limitations due to the pandemic and pivot to alternatives to avoid the bulk of the chip shortage. It’s not like Tesla was completely unaffected; it was a difficult time, but its quarterly didn’t show it.

In Q2 2022, it finally caught up to the automaker as COVID-19 restrictions in Shanghai forced the automaker to shut down its factory for a significant part of the quarter.

Most industry analysts put Tesla’s Q2 delivery estimates between 250,000 and 270,000 units – or about 50,000 units down from the previous quarter, which was an all-time high.

Tesla Q2 2022 Production and Delivery Results

Today, Tesla released its production and delivery results for the second quarter of 2022 and confirmed that the estimates were mostly right.

The automaker confirmed 254,695 deliveries during the quarter and production of 258,580 vehicles:

 ProductionDeliveriesSubject to operating lease accounting
Model S/X16,41116,16212%
Model 3/Y242,169238,5333%

In a brief press release for the results, Tesla confirmed the “supply chain challenges and factory shutdowns” resulted in its first down quarter in two years.

Interestingly, Tesla also mentioned that June 2022 was the company’s best month ever for vehicle production:

In the second quarter, we produced over 258,000 vehicles and delivered over 254,000 vehicles, despite ongoing supply chain challenges and factory shutdowns beyond our control. June 2022 was the highest vehicle production month in Tesla’s history.

We reported that Tesla recently managed to impressively ramp up production at Gigafactory Texas. The automaker is also increasing production capacity at every single one of its production facilities.

Tesla is aiming to have four factories, each with a production capacity of over half a million vehicles per year within the next 12 months. That’s more all-electric vehicles than any other automaker can produce.

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