Connect with us

Hi, what are you looking for?

Technology

Tesla deliveries fall 18% due to China Covid shutdowns, supply issues

In a nutshell: Tesla recorded its first sequential decline in vehicle deliveries for more than two years during Q2, but it wasn’t due to a lack of demand. The Covid-related shutdowns in China and parts shortages were the main factors behind the second quarter’s 18% drop.

The electric vehicle giant said over the weekend that it had delivered 254,695 vehicles in the April to June period. While it marks a 26% increase over the 201,250 vehicles delivered in the second quarter of 2021, that figure for the preceding quarter (Q1 2022) stood at 310,048.

At the start of the second quarter, Wall Street analysts had been expecting 350,000 deliveries from Tesla, though that number was revised after Elon Musk said it would be closer to Q1 levels and the impact of the Chinese shutdowns was into account.

Tesla’s Shanghai factory was responsible for about half the company’s output last year, but a resurgence in cases combined with China’s zero-tolerance approach to outbreaks saw production temporarily suspended at the facility and those belonging to its suppliers. It led to Tesla increasing output at the Freemont, California, plant to try and make up the shortfall.

Tesla said that the Covid-related/supply issues eased near the end of the quarter, and it outputs the highest monthly production volume in the company’s history in June.

The world’s largest EV company has found itself hitting the headlines more often than usual recently. Musk said he wanted to cut a percentage of the company’s jobs—a move that has led to lawsuits—due to his “super bad feeling” about the economy. The price of its vehicles increased by $6,000, and employees who returned to the Freemont plant following Musk’s demands found there weren’t enough desks or parking spaces.

Advertisement. Scroll to continue reading.

Click to comment

Leave a Reply

Latest

Online Business Success

A representational image of the International Monetary Fund (IMF) logo. — Reuters/File The letter is now to be jointly signed by finance minister and...

Loan And Finance

From left, Firefighters Sergio Porras, Jerome Alton and Natasha Rodocker mop up hot spots while battling the Oak Fire in the Jerseydale community of Mariposa County,...

Social Media

Google’s looking to add more context to its Search results, in order to mitigate the spread of misinformation, by adding improved contextual data matching...

Top Stories

The chief of Australia’s financial services regulator Joe Longo has raised the alarm over the sheer amount of people that invested in “unregulated, volatile”...

Texas

On Wednesday, the commissioners court of Zavala County—the 11,000-person county immediately south of Uvalde—passed a resolution urging Republican Governor Greg Abbott to call a...

Florida

South Florida burger missionary Jeffrey Lemmerman, better known by his Instagram handle, Cheffrey Eats, claims not to know that this is National Sandwich Month:...

Advertisement

You May Also Like

Uncategorized

Introductions get a lot of attention. I’ve explored the topic of how to write them even though as a reader, I always skip them....

Online Business Success

The internet is now our nervous system. We are constantly streaming and buying and watching and liking, our brains locked into the global information...

SEO Guide

There are all kinds of pictures of the world on the internet, but to find one of these specific pictures that you want to...

Online Business Success

You can think of link building in many ways. I like to call it tedious, painful, and a test of patience. It’s also necessary...

Advertisement