Tesla’s Q2 revenue fell 13% from the previous quarter despite producing 250,000 vehicles

The closure of Shanghai, which lasted for about two months, really brought a big blow to Tesla’s performance last quarter. According to the official data released at the financial report meeting not long ago , Q2’s electric vehicle business revenue fell compared to the record Q1. as much as 13%. However, revenue of $16.9 billion was up 42% from the same period a year ago, and operating profit was $2.5 billion, up 14.6% the following year. 

In the second quarter, Tesla produced 258,580 new vehicles and delivered 201,304 units. Production was almost 18% lower than the previous quarter, but 27% higher than a year ago. CEO Elon Musk expects deliveries for the full year 2022 to increase by 60% from the previous year.

Tesla has delivered 564,743 vehicles so far this year, which means they need to deliver 935,257 more in the remaining time to reach the target.

To achieve this, the Shanghai factory, which was tied up in Q2, needs to be quickly rejuvenated, while the new factories in Austin and Berlin need to be fully powered. Now the Austin plant has begun mass production of Tesla’s new 4680 battery-based models, and in the past three months, the weekly production of the Berlin plant has exceeded 1,000 vehicles. 

“It’s important to point out that we have enough 2170 batteries to meet all vehicle production and demand for the rest of the year, and until then, Tesla has largely avoided the worst supply chain shortages during the pandemic.

The Model Y is currently long The suggested retail price of the mileage version is under US$66,000, which is already 30% higher than the price in 2021.” Musk said in the conference. At the same time, he also said that Tesla will make the long-delayed Cybertruck “ready” as soon as possible, and the current plan is to start production “in the middle of next year.”

It is worth mentioning that Tesla’s current cash holdings have increased to 18.9 billion US dollars, and the latest appreciation is largely due to the fact that they have emptied 75% of their bitcoins (valued at nearly 1 billion) in the past three months. Dollar). However, for Musk’s “favorite” Dogecoin, he once said that he “didn’t sell at all.”

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