Site icon Real Mi Central

Is Tesla’s record deliveries coming to an end?

Tesla

Tesla

Tesla Inc is set to end its record quarterly deliveries in nearly two years, possibly related to a slowdown in its product supply chain and an increase in new factories. Analysts expect Tesla to report second-quarter deliveries of 295,078 vehicles as early as Friday (July 1), according to Refinitiv data. Further downgrades to about 250,000 units.

That would be down from its record 310,048 deliveries in the previous quarter, marking Tesla’s first quarterly drop in deliveries since the first quarter of 2020.
Tesla has been delivering new records every quarter since the third quarter of 2020, China has played a major role in Tesla’s rapid growth in vehicle production, and Musk has praised workers in China for returning at 3 a.m. to work.

Musk said in April that Tesla’s overall vehicle production in the second quarter would be “roughly flat” with the first. But it recently indicated that Tesla had a “very tough quarter” and that its new factories in Texas and Berlin were “huge melting pots” that lost billions of dollars as they struggled to ramp up production quickly. Tesla’s supply chain issues are not over, he said, and keeping factories running is still an issue.

Garrett Nelson, an analyst at CFRA Research, said he expects a strong rebound in sales in the second half of the year, with Tesla ramping up output at its Shanghai plant. And Gene Munster, managing partner at venture capital firm Loup Ventures, is cautious about the outlook, saying the third quarter will remain difficult for Tesla and other tech companies, citing recession risks.

Elon Musk, chief executive of Tesla, is trying to acquire social media platform Twitter, while Tesla has been grappling with sluggish production growth at new factories in Texas and Berlin. Still, Musk said demand for Tesla vehicles remains strong.

If you like our news and you want to be the first to get notifications of the latest news, then follow us on Twitter and Facebook page and join our Telegram channel. Also, you can follow us on Google News for regular updates.

Exit mobile version