Elon Musk’s electric vehicle manufacturer Tesla (NASDAQ: TSLA) announced its second-quarter 2022 delivery results on July 3. The automaker delivered a total of 250,000 new cars in the second quarter of the year, compared to the first quarter of 2022, the number of deliveries slumped by 18%. However, Tesla was able to produce 258,580 cars in the second quarter despite a three-week-long factory shutdown in China.
Tesla delivered roughly 238,533 Model 3 sedans and Model Y compact sport-utility vehicles combined during the second quarter. The high-end Model S sedan and Model X crossover posted combined deliveries of 16,162.
“In the second quarter, we produced over 258,000 vehicles and delivered over 254,000 vehicles, despite ongoing supply chain challenges and factory shutdowns beyond our control. June 2022 was the highest vehicle production month in Tesla’s history” – TESLA said in the press release.
Tesla stock dropped more than 35% in the second quarter. On Friday, Tesla shares rose 1.2% to close at $681.79. Technically, the overall momentum remained bearish in the last couple of weeks. Recently Tesla laid off an estimated 200 workers and closed an entire office in San Mateo, California.
Moving ahead, the investors should closely monitor the release of financial results for the second quarter of 2022. The company will report its Q2 results after market close on 20 July 2022.
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