Supply chain challenges, in particular global semiconductor shortages and port congestion, continued to be present in Q2. We produced and delivered over 200,000 vehicles, achieved an operating margin of 11.0 and exceeded 1B of GAAP net income for the first time in our history. Tesla had boosted its sticker prices by as much as $6,000 a car earlier this month, according to Electrek. In the second quarter of 2021, we broke new and notable records. However, both Berlin and Austin have been slow to increase production, with Mr Musk warning in May that both plants were “gigantic money furnaces”.Īnalysts and investors are also worried that the price increases car makers are imposing to combat soaring raw material costs will weigh on demand. The company has begun delivering the first Model Ys from its new plant near Berlin and held a “Cyber Rodeo” event for 15,000 people in April to celebrate a new factory in Austin. It also produces Models 3 and Y at a factory near Shanghai. Tesla makes the Model S, X, 3 and Y vehicles at its plant in Fremont, California. “In aggregate, we believe the Shanghai shutdown accounted for about 90,000 units of lost production in the second quarter,” Mr Levy wrote to clients.
The lions share falls on the Model 3 /Model Y - over 242,000. Many large car makers announced US sales results on Friday, but Tesla, which reports global totals, hasn’t specified a release date.ĭan Levy, an analyst with Credit Suisse, reduced his delivery estimate for the period to 242,000 units.Įlon Musk says Twitter deal still has 'unresolved matters' and clarifies Tesla job cuts Tesla increased its overall electric car production in Q2 by about 25 year-over-year to 258,580. They underpin the Texas-based company’s financial results and are widely seen as a broad barometer of consumer demand for EVs amid a wider shift away from the internal combustion engine. Shares of Tesla rose 1.2 per cent to close trading on Friday at $681.79.ĭeliveries are one of the most closely-watched metrics at Tesla. “Recall that during the first-quarter call, CEO Elon Musk had provided directional guidance of sequentially flat deliveries for the quarter but the situation in China worsened subsequently, only improving in early June.”
“We cut our second-quarter deliveries estimate by 65,000 to 245,000 units, reflecting a prolonged Covid 19-related shutdown and logistical challenges in the Shanghai factory,” Emmanuel Rosner of Deutsche Bank wrote to clients. Tesla handed over more than 310,000 vehicles in the first three months of the year, more than any previous quarter. The electric vehicle maker may have delivered more than 261,000 vehicles globally during the three months ended in June, according to nine analysts surveyed by Bloomberg, ending a two-year stretch of consecutive quarterly gains. Tesla is expected to announce quarterly production and delivery figures this weekend that are likely to be among the worst of the year - and break its multi-quarter streak of record-setting results - due largely to an extended shutdown of its factory in Shanghai.
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