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

Tesla today announces its second quarter (Q2) 2022 production and delivery results, confirming just over 250,000 deliveries — the first quarter of decline in a long time.

While most of the auto industry saw a significant drop in deliveries in 2020 due to the pandemic and subsequent chip shortages, Tesla managed to grow at an impressive rate.

In fact, Tesla has had 9 consecutive quarters of delivery growth since 2020. This makes the company completely unique in the automotive industry for volume manufacturers.

The automaker managed to overcome both limitations and restrictions imposed by the pandemic and switched to alternatives to avoid most of the chip shortage.

It’s not that Tesla has been completely unaffected, it’s been a tough time, but its earnings report didn’t show it.

It finally caught up with the automaker in the second quarter of 2022, as COVID-19 restrictions in Shanghai forced the automaker to close its factory for a significant portion of the quarter.

Most industry analysts are putting Tesla’s second-quarter delivery estimates at 250,000 to 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

Tesla today released its production and delivery results for the second quarter of 2022, confirming that the estimates were mostly correct.

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

production deliveries Subject to accounting for operating leases
Model S/X 16,411 16,162 12%
Model 3/Y 242,169 238,533 3%
In total 258,580 254,695 4%

In a brief press release on the results, Tesla confirmed that “supply chain challenges and factory closures” led to its first bearish 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 plant closures beyond our control. June 2022 was the month with the highest vehicle production in Tesla history.”

We reported that Tesla recently managed to impressively ramp up production at the Gigafactory Texas. The automaker is also increasing production capacity at each of its manufacturing sites.

Tesla aims to have 4 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.

FTC: We use income earning auto affiliate links. More.

Subscribe to Electrek on YouTube for exclusive videos and subscribe to the podcast.