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Tesla Reports Q2 Deliveries Representing Sales Growth of 26.5% Year-Over-Year – $TSLA $SPY

By John F. Heerdink, Jr.

Reportedly, Tesla (TSLA) posted total deliveries of 254,695 for Q2/2022, which was lower than analysts’ expectations of 256,520 vehicles. The company pointed to the Q2 results which were marked by Covid restrictions, supply chain snarls, semiconductor chips, and other parts shortages. Total production stood at 258,580 for the quarter ended June 30.

Last year, Tesla delivered 201,250 vehicles in the second quarter, which was its first time delivering more than 200,000 units in a three-month period. In the first quarter of 2022, Tesla delivered 310,048 vehicles.

On a positive note, the delivery numbers represented sales growth of 26.5% Y/Y.. The company has soft-guided to around 50% average annual growth, long-term, depending on manufacturing capacity and other factors.

In China this quarter, Tesla had to shut down or only allowed partial operations at its Shanghai factory for weeks due to covid-related public health orders. Other supply chain snarls, worsened by Russia’s invasion of Ukraine, also impacted Tesla and the broader auto industry during the quarter.

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(Read Original Story: Tesla delivered 254,695 electric vehicles in the second quarter of 2022 in CNBC)


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