Tesla has just posted its deliveries and production of electric vehicles for the recently completed quarter and the figures it has posted are mixed.
Tesla Shares its Production and Deliveries
On Friday, Tesla reportedly shared its production and deliveries of electric vehicles in the second quarter of 2022. For the particular quarter, Tesla confirmed that it has produced a total of 258,580 vehicles. Whereas, Tesla confirmed that it has delivered a total of 254,695 vehicles.
Tesla confirmed that it slightly missed the delivery expectations for electric vehicles in the second quarter. The firm was reportedly unable to meet the expectations that the analysts had set for the particular quarter.
According to the analysts at Street Account, which is owned by FactSet, Tesla was expected to deliver a total of 256,520 vehicles in the second quarter of 2022.
Tesla posted that several factors hindered its path in hitting its expectations for the delivery of electric vehicles. It revealed that factors such as shortage of semiconductor chips, supply chain snarls, COVID restrictions, and shortages of other parts attributed to Tesla not meeting its target.
Tesla’s Performance in the Past Year
In the same quarter of 2021, Tesla reported that it had delivered a total of 201,250 vehicles. It was the first time ever for Tesla to cross the 200,000 vehicle delivery milestone in any quarter.
Then in the first quarter of 2022, Tesla confirmed it had delivered 310,048 vehicles. For the first time in Tesla’s history, it reported that it had delivered more than 300,000 vehicles in any quarter.
Tesla reported that in terms of year-over-year growth, Tesla has recorded 26.5% growth. As for the sequential growth, Tesla has recorded a -17.9% growth.
Tesla has Soft-Guided its Annual Growth
On an annual scale, Tesla has soft-guided its average growth by around 50%. The electric vehicle manufacturing giant had to make this decision based on multiple factors but the most prioritized factor was the manufacturing capacity.
In the first quarter of 2022, Tesla had predicted that they were planning to increase their average annual growth by 50% on a year-over-year basis.
However, in the running quarter, Tesla had to shut down its manufacturing plant in Shanghai, China. The company has also announced that it is going to shut down two major plants in Germany and America.
The company has also carried out downsizing of around 9% of its employees and has also shut down an office laying off 200 employees in the recent updates.
Despite sharing below expectation results and a not-so-promising outlook, Tesla’s shares have uplifted by almost 2%. However, it is expected that the share prices for Tesla may dip in near future.
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