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Tesla delivers over 250,000 cars in second quarter - fewer than during Q1 - amid Covid obstacles and supply chain challenges

·2 min read
Tesla CEO Elon Musk at the company's Cyber Rodeo event in Austin, Texas.
Tesla posted its vehicle production and delivery numbers for the second quarter of 2022 on July 2 with plans to post its financial result on July 20.SUZANNE CORDEIRO / AFP
  • The electric car producer reports over 254,695 car deliveries in its 2022 second quarter.

  • Musk refers to new Austin and Berlin factories as "money furnaces," CNBC reports.

  • Tesla plans to post its financial results for the quarter on July 20.

Tesla produced over 258,000 vehicles and delivered more than 254,000 in a second quarter heavily restricted by Covid and other issues, the company announced on Saturday.

In addition to the pandemic, Tesla's second quarter was affected by supply chain issues, and a shortage of parts. The numbers released reflect a 50,000-plus increase in cars delivered compared to last year's second quarter, CNBC reports.

Despite the increase, Tesla fell short of analysts' delivery expectations of 256,520 units, according to a consensus compiled by FactSet-owned Street Account. Tesla reported over 300,000 deliveries in its first quarter of 2022 — over 50,000 more units than its most recent quarter.

In China, Covid-related rules forced Tesla's Shanghai factory to limit operations, and supply chain issues were exacerbated by the Russia's invasion into Ukraine.

The company plans to post the financial results of its second quarter on July 20, but Elon Musk admits production of new factories in Texas, California, and Germany have been costly.

"Berlin and Austin are losing billions of dollars right now because there's a ton of expense and hardly any output," Musk said in a May interview with Tesla Owners Silicon Valley.

"Getting Berlin and Austin functional and getting Shanghai back in the saddle fully are overwhelmingly our concerns. Everything else is a very small thing basically."

Read the original article on Business Insider