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End of a series of delivery records for Tesla
Tesla said on Saturday it delivered 254,695 vehicles between April and June, compared to 310,048 vehicles in the previous quarter, ending a streak of record quarterly deliveries lasting nearly two years.
Analysts had expected Tesla to report deliveries of 295,078 vehicles for the April-June period, according to Refinitiv data. Several analysts had further reduced their estimates to around 250,000 due to prolonged containment measures in China.
Suspension of activities in the Shanghai Giga-factory due to Covid
A resurgence in COVID-19 cases in China has forced Tesla to temporarily suspend production at its Shanghai factory and has also affected supplier facilities in the country.
The manufacturer is now accelerating its production rates in its Giga-factory in Shanghai, thanks to the relaxation of the very strict containment measures taken to fight against COVID-19. This should help increase deliveries in the second half.
Elon Musk warns about the economic situation
In early June, Tesla boss Elon Musk said he had a “super bad feeling” about the future of the economy, adding that he needed to cut around 10% of the electric carmaker’s staff.
Wanting to be reassuring, the manager now assures that demand for the manufacturer’s vehicles remains strong, but that the challenges of the supply chain remain.
In June, Tesla again raised prices for some of its models in the United States and China after Musk warned of significant inflationary pressure in the raw materials and logistics sectors.
June 2022 was the highest vehicle production month in company history, Tesla said in a press release.
Our opinion, by leblogauto.com
Tesla has posted record deliveries every quarter since the third quarter of 2020, weathering the pandemic and supply chain disruptions better than most automakers.
China has been instrumental in the automaker’s rapid increase in vehicle production, with the lucrative, low-cost Giga-factory in Shanghai producing about half of the total number of cars the automaker delivered that year. last.
While last April Elon Musk said Tesla’s overall vehicle production in the second quarter would be “roughly on par” with the first quarter, driven by a rebound from China, he recently said the automaker had had a “very difficult quarter”, citing production and supply chain issues in China.
Musk also claimed that the new factories of Tesla in Texas and Berlin were “gigantic money furnaces” (money pumps), losing billions of dollars as they struggle to rapidly scale up production.
The freeze on mass production in China – due to Covid – could now impact the manufacturer’s financial balance.
Sources: Reuters, Tesla
Tesla delivered 17.9% fewer electric vehicles in the second quarter compared to the previous quarter. Main reasons for such a poor performance: the measures taken by China to try to stem the spread of the COVID 19 pandemic – which led to activity freezes, disrupting the US manufacturer’s production – and difficulties in the supply chain.