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Tesla just released its second quarter production and delivery numbers showing that the electric vehicle maker delivered 254 695 cars. That's about 50 000 units fewer than the previous quarter, which was an all-time high. This was the first sequential down quarter in a very long time. Covid-19 restrictions in Shanghai forced the firm to shut down that factory for most of the period.
Tesla delivered 16 162 Model S and Xs, their high-end luxury vehicles, and 238 533 Model 3 and Ys which are the more mid-market affordable cars. The good news is that Tesla recently managed to ramp up production at the new Gigafactory in Texas. The firm is also increasing capacity across all factories. According to management comments, June's output was a record for one month, so they are back on track
Tesla has a short-term goal of having four fully-functional factories, each with production capacity of over half a million cars per year, in the next 12 months. That's more all-electric vehicles than any other carmaker can produce. We like the stock.
