With the closing of the third fiscal quarter of 2022, Tesla (NASDAQ: TSLA) has released its production and delivery results for the three month period. While the numbers demonstrated an improvement over the second quarter, the results still came shy of forecasts.
The company managed to deliver a total of 343,830 vehicles during the quarter, versus 254,695 in the second quarter. Model S/X vehicles had a total of 18,672 deliveries, why the Model 3 and Y collectively posted 325,158 deliveries.
On the production side, improvements were seen from the second quarter as well. 365,923 vehicles in total were produced during the quarter, versus 310,048 in the second quarter. Model S/X production figures amounted to 19,935 for the period, while Model 3/Y accounted for 345,988 vehicles.
Sponsored · PTX Metals Inc.
While figures may have shown a significant quarter over quarter improvement, the results weren’t enough. The company was expected by analysts to deliver 358,000 vehicles.
On this failure to meet expectations, the company commented that it is struggling to source vehicle transportation capacity and at a “reasonable cost.” As a result, more cars were in transit at quarter end than was expected, with those vehicles reportedly ordered and to be delivered upon arrival.
Tesla last traded at $265.25 on the Nasdaq.
Information for this briefing was found via Edgar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
