Tesla Posts “Highest Vehicle Production Month” In History Despite Production Hiccups
Tesla (Nasdaq: TSLA) on Saturday reported its preliminary Q2 2022 operating results, highlighting 254,695 deliveries for the quarter. This is lower than Q1 2022’s deliveries of 310,048 vehicles.
The automaker, however, is taking the quarter’s results as a win “despite ongoing supply chain challenges and factory shutdowns beyond our control.”
“June 2022 was the highest vehicle production month in Tesla’s history,” the company said.
Breaking it down, the company delivered 238,533 Model 3/Y units and 16,162 Model S/X units. It also produced 242,169 Model 3/Y and 16,411 Model S/X vehicles during the quarter.
This comes after CEO Elon Musk appeared in an interview with a group named Tesla Owners of Silicon Valley saying “both Berlin and Austin [Tesla giga] factories are gigantic money furnaces right now.” The Berlin factory recently temporarily closed its plant for two weeks just three months after opening due to slow production.
While the quarter-on-quarter deliveries have gone down, the Q2 2022 results were higher than Q2 2021’s 201,250 total deliveries.
This is what Gerber Kawasaki CEO Ross Gerber–9.8% of his firm’s investment portfolio is invested in Tesla–made sure to highlight.
Tesla last traded at US$681.79 on the Nasdaq.
Information for this briefing was found via Bild 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.
