Tesla had another good quarter in terms of EV production and delivery levels, but it wasn’t quite as good as the previous two quarters.
Tesla delivered more than 250,000 electric vehicles during the second quarter of 2022, according to the company’s latest quarter results. By some margin, Tesla is the leading company when it comes to shifting EVs in the US, but just like most other companies, it has faced additional and unforeseen pressures due to the pandemic and shortages. Some of those appear to have impacted on its latest quarter considering that, while it was good overall, it wasn’t the company’s best.
The Tesla lineup currently consists of four main electric vehicle models for consumers to choose from, with each one attempting to appeal to a different price point. However, as the pandemic and its effects have continued to impact on the industry, Tesla has found itself in the position of needing to continually increase the price of its electric vehicles. For example, the cheapest price the company’s so-called $35k car can currently be purchased for is around $46,000, excluding any tax deductions that might be available. Over the last two years, Tesla has increased the price of all of its electric vehicles at least once.
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According to the company’s latest quarterly results, Tesla delivered 254,695 vehicles during the second quarter of this year. The vast majority of those deliveries (238,533) were Model 3 and Model Y vehicles with the Model S and Model X accounting for the remaining 16,162. In total, Tesla says it managed to produce 258,580 electric vehicles during Q2, 2022. Once again, this was broken down as 242,169 Model 3 and Y, as well as 16,411 Model S and X.
Not Tesla’s Best Quarter So Far
As mentioned, Tesla, like many other companies, has faced multiple issues over the past couple of years and mostly stemming from the effects of the pandemic, shortages, and temporary production disruptions. This was not a point ignored in the most recent quarter either, with Tesla pointing out these production and delivery levels were in spite of the “ongoing supply chain challenges and factory shutdowns beyond our control.” In fact, the announcement also took a moment to point out that last month was the “highest vehicle production month in Tesla’s history.”
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Although positive in general, it is worth noting that the Q2 production and delivery levels were below Q1’s. In the previous quarter, Tesla managed to deliver 310,048 vehicles and this was following the fourth quarter of 2021 when the company managed to deliver 308,600 vehicles. Still, taking those two record-breaking quarters out of the equation for a moment, Tesla’s second quarter of 2022 was one of its best quarters to date in terms of production and deliveries. Along with the decline in production and deliveries compared to the previous quarter, Tesla also saw a decline in revenue as well.