Tesla has wrapped up the quarter with bad news – the first time in * quarters where it went backwards in production figures, while announcing an all time record production for the month of June.
Tesla delivered 254,695 cars worldwide for the quarter. This was down from 310,048 for Q1. This is the first quarterly drop in deliveries in more than two years. The Q2 result is still up 27% year on year. The slump was widely expected in the wake of the Shanghai lockdowns which saw the Chinese Tesla plant shut for several weeks. Tesla went to extraordinary lengths, and seemed to receive significant concessions from authorities, including workers being allowed to live in the factory, to dampen the impact.
Pundits are still anticipating Tesla to be able to finish the year with a record production of more that 1.5 million vehicles.
Tesla will report Q2 earnings on July 20. The annual shareholder meeting will be August 4.