Tesla Sales Fell in the Second Quarter 2022

Strict lock down has been imposed in China for the last three to four months. Due to which Tesla’s production and sales have fallen drastically.

Along with this, supply chain issues have also become one of the main reasons for the huge decline in Tesla’s sales. According to the Tesla company, Tesla has sold 2 lakh 54 thousand electric cars between April and June.

Whereas it has declined by 18% as compared to the previous 3 months. Between April and June, Tesla’s sales have come down drastically.

In China, the cases of corona had increased significantly since the month of April. Due to which there was a lockdown in Shanghai city. Tesla’s factory was closed for several weeks in April due to the Lockdown.

Although Tesla’s factory has now been reopened. According to the company, despite supply chain issues and factory shutdowns, production of Tesla vehicles in June 2022 was the highest in the history of Tesla.

According to company filings, 45% of Tesla’s revenue last year came from US sales. Whatever vehicles Tesla sells in the rest of the world. All those vehicles are made in Shanghai.

Although the Tesla company is growing at a very fast pace. Its growth history started from 2020. Although Tesla was performing well before. But the golden period for him started from 2020.

It is quite rare to see such a drop in sales now. Recently, Elon Musk has given an interview. In which he said that Tesla’s production is being affected due to supply-chain issues.

Tesla recently opened two new plants in Germany and Texas. But due to both of those plants, they are losing billions of dollars. All this is happening due to non-production due to supply chain issues.

Tesla’s stock is down up to 35% in the 6 months to the beginning of 2022. Although this decline has also been seen in the stocks of top companies listed in S&P 500 like Apple, Meta, Google etc.

Let us tell you that recently, a few months ago, Tesla CEO Elon Musk bought Twitter for 44 billion dollars. However, he has now put this deal on hold.

The Tesla company did not reveal the number of vehicles manufactured in June. Elon Musk has already told that salaried workers should come back to the office. He wants to cut Tesla’s work force by 10% because of the recession.

The Tesla company has faced a lot of problems due to the short tag of the Semiconductor Chip even at the beginning of COVID-19. Now the same problems are coming again.