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TeslaĀ just postedĀ its second-quarter vehicle production and delivery numbers for 2022. Here are the key numbers:
- Total deliveries Q2 2022: 254,695
- Total production Q2 2022: 258,580
Delivery numbers, which are the closest approximation of sales reported by Tesla,Ā fell just shy of analystsā expectations.
Last year,Ā TeslaĀ delivered 201,250 vehicles in the second quarter, its first time delivering more than 200,000 units in a three-month period. In the first quarter of 2022, Tesla deliveredĀ 310,048 vehicles.
Todayās delivery numbers represented sales growth of 26.5% year-over-year, and a 17.9% decrease sequentially for Elon Muskās electric vehicle venture.
The company has soft-guided to around 50% average annual growth, long-term, depending on manufacturing capacity and other factors.
In Teslaās first-quarter shareholder deck, the company said, āWe plan to grow our manufacturing capacity as quickly as possible. Over a multi-year horizon, we expect to achieve 50% average annual growth in vehicle deliveries.ā
In China this quarter, Tesla had to shut down or only allow partial operations at its Shanghai factory for weeks due to covid-related public health orders. (FactSet noted that some analystsā projections were excluded from the StreetAccount consensus if they did not take into account the Shanghai factory shutdown.)
Other supply chain snarls, worsened byĀ Russiaās brutal invasion of Ukraine, also impacted Tesla and the broader auto industry during the quarter.
Separately, Tesla is grappling with the high costs of building out and starting up production at new factories in Austin, Texas and near Berlin in addition to its Fremont, California and Shanghai plants. CEO Elon Musk has publicly lamented that the new factories areĀ costing Tesla billions, but have not yet been able to make enough vehicles and batteries to justify their costs.
As startups and legacy automakers offer more new electric vehicles, TeslaāsĀ share of the global and domestic EV marketĀ is expected to decrease but remain substantial.