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Tesla deliveries fall with temporary China factory shutdown – AFR

Tesla’s electric vehicle deliveries fell in the second quarter compared to the previous quarter, mainly due to a week-long shutdown of its factory in China, the company said on Saturday.

Elon Musk’s company delivered 254,695 vehicles from April to June, it said in a statement.

That’s up 27 percent from the same period a year ago, but down 18 percent from the January-March 2022 quarter, and the first such decline in more than two years.

That’s a disappointment for a company that says it’s showing strong growth and is announcing two new factories to open this year in Germany and Texas.

The drop in deliveries was larger than expected by analysts, who had expected 264,000 vehicles to be handed over to buyers, according to FactSet, a financial data and software company.

Tesla warned in April that the supply chain hitting the auto industry in general would disrupt the company’s production by the end of the year.

Still, it delivered a record number of cars in the first quarter of 2022.

But in the second quarter, Tesla had to grapple with closing its Shanghai factory for several weeks due to strict lockdown measures in China due to a spike in Covid-19 cases.

In its statement on Saturday, the company said it produced 258,000 vehicles in the second quarter “despite ongoing supply chain challenges and plant closures that are beyond our control.”

It also said June was the month with the highest vehicle production in Tesla history.

Elsewhere in the industry, General Motors and Toyota saw second-quarter U.S. sales decline 15 percent and 23 percent, respectively, compared to the same period in 2021.

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