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Tesla's second-quarter sales decline in supply chain, pandemic issues

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The Associated Press

Associated Press

Tom Krisher

FILE - In this April 26, 2020 photo, the company logo shines off the rear deck of an unsold 2020 Model X at a Tesla dealership in Littleton, Colo. Tesla's sales from April through June 2022 fell to their lowest quarterly level since last fall as supply chain issues and pandemic restrictions in China hobbled production of its electric vehicles.
File-This April 26th, 2020 photo, company logo illuminating the unsold 2020 Model X rear deck at a Tesla dealership in Littleton, Colorado Electric vehicle production was stagnant in China. Photo: David Zalubowski/Associated Press

Detroit (AP) — Tesla from April to June Sales fell to the lowest quarterly level since last fall as China's Associated Press problems and pandemic regulations hindered the production of electric vehicles.

On Saturday, the company revealed that it sold more than 254,000 cars and SUVs from April to June. This is a 18% decrease from the first three months of this year, well below last year's pace. The last quarter of this year.

Tesla's last few vehicles sold in the world were when it shipped 241,000 units in the third quarter of 2021.

According to J.D. Power, other industries saw sales fall 21% in the second quarter as average car prices soared to a record $ 45,844 on Friday amid a surge in inflation. I reported.

Tesla's decline in sales could signal a slump in second-quarter earnings in Austin, Texas, the world's top-selling battery-powered vehicle, which has been making net profit for almost three years. I have. Tesla will announce the full results for the period April-June on July 20th.

Like many other stocks, Tesla's stock has been hit hard this year. However, a 35% drop in Tesla's share price is not entirely tied to the fate of the company seesaw.

Tesla CEO Elon Musk has bid $ 44 billion on Twitter. This was put on hold after complaining that there were too many non-human spambot users. Much of Tesla's decline in value has caused too much concern for the already crowded plate since Mask became Twitter's largest shareholder and began bids for acquisitions

Mask , Currently using my Twitter account. There are more than 100 million followers to discuss the pandemic restrictions that forced the Shanghai factory to temporarily close during the quarter. Dan Ives, an analyst at Wedbush, estimates that more than 40% of Tesla's sales come from China, and that the Shanghai plant produced about 70,000 vehicles due to the shutdown.

However, Tesla showed that things were getting better on Saturday, producing more vehicles during June than any other month in its history. Said. The company did not disclose the number of vehicles manufactured in June.

Early Saturday afternoon, Musk hadn't tweeted about Tesla's second-quarter sales. But at the end of Friday, he made a bit of a fuss by ending a long, featureless nine-day silence on Twitter. His Friday tweet included one with him, four children who met Pope Francis.

Tesla's latest deliveries were announced a week after the release of the interview with Mask. It described the new Austin and Berlin factories as "money furnaces" that had lost billions of dollars due to supply chain failures. The number of cars they can produce.

In a May 30 interview with the Tesla Owners Club, which was just released last week, Mask was "overwhelmingly concerned about having factories in Berlin and Austin function. Is. " Everything else is very small, "Mask said, but added," It's all going to be fixed really fast. "

Musk also discussed returning salaried workers to the office and reducing Tesla's workforce by 10% due to the possibility of a recession.

The collapse of the supply chain since the onset of COVID-19 two years ago has been particularly debilitating for automakers getting parts from anywhere in the world. The lack of computer chips needed to power a car's computer exacerbated the problem for automakers and caused prices for used and new cars to skyrocket.

Due to a pandemic in the United States in 2020, automakers had to shut down their factories for eight weeks to prevent the spread of the virus. Some parts companies have canceled their semiconductor orders. At the same time, the demand for laptops, tablets and game consoles surged as people stuck at home upgraded their devices.

By the time car production resumed, chip makers had shifted production to consumer goods and there was a shortage of weatherable car-grade chips. Tesla is better than other car makers, but the industry still doesn't have enough chips.


AP business writer Michael Liedtke contributed to this story from Berkeley, California.

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