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published in Blogs
Jul 04, 2022
Tesla (TSLA, $681.79) missed Q2 deliveries estimates

Tesla (TSLA, $681.79) missed Q2 deliveries estimates

Tesla  posted second quarter deliveries that were lower than expected by analysts, amidst plant closures in China and disruptions in global supply chain.

During the quarter ending in June, the electric carmaker delivered 254,695 new cars -- up 26.7% from last year. The is weaker than analysts’ original expectations of  around 295,000 (but even that estimate was lowered over the past week following reports of a Tesla-collected consensus of around 256,000 ).

Tesla delivered 238,533 units of its Model 3 and Model &, as well as 16,162 units of its Model S and Model X.

The carmaker’s production fell to 258,580 vehicles, from the 305,407 in the first quarter and the 305,840 last quarter of 2021. The slowdown in output was partly due to supply chain challenges and pandemic-related closures at its Shanghai factory.

Due to China’ “zero Covid” policy related lockdown, Tesla lost around 22 days of production from its key Shanghai gigafactory during the second quarter.

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