On July 2, Tesla, the leader of American electric vehicles, announced its second quarter car production and delivery data. Data shows that Tesla delivered 564,743 new cars globally in the first half of the year, of which 254,695 were delivered in the second quarter, and produced 563,987 vehicles globally, of which 258,580 were produced in the second quarter. Looking at specific models, 533,857 Model 3 and Model Y were delivered in the first half of the year, of which 238,533 were delivered in the second quarter. 30,886 Model S and Model X were delivered, of which 16,162 were delivered in the second quarter.
According to Tesla's disclosure, although delivery volume in the second quarter increased by 26.5% year-on-year, it fell by 17.9% month-on-month. Looking back on history, this is Tesla's first quarterly delivery decline since 2020. Additionally, Tesla's deliveries fell short of expectations. According to FactSet statistics, analysts expect Tesla to deliver 256,520 vehicles in the second quarter. This data includes the impact of the epidemic on Tesla. However, Tesla also emphasized in the announcement that June was the month with the highest production capacity in Tesla’s history. This statement means that if Tesla production is not affected by the epidemic, Tesla will still have a chance to reach new heights in delivery volume in the next quarter. It is understood that Tesla will announce its latest quarterly report on July 25.
Factory shutdowns caused by the epidemic, supply chain tensions, logistics and freight obstructions, and shortages of chips and auto parts are all reasons for Tesla’s weaker data this quarter, especially Tesla’s Shanghai factory, which has been suspended for half a month. Tesla’s domestic and overseas production and delivery are hampered. Affected by the epidemic in Shanghai, Tesla's Shanghai factory suspended production continuously in April and did not resume production until April 19. Tesla ushered in the "darkest" moment in history that month. According to data from the Passenger Car Association, Tesla’s wholesale sales in China in May were 32,165 vehicles, of which 22,340 were exported and 9,825 were sold domestically. In addition, Tesla China’s cumulative sales from January to May 2022 were 215,851 vehicles.
Tesla predicted at its first-quarter earnings conference that the company's long-term average annual growth rate could reach about 50%, based on manufacturing capacity and other factors. Based on a total of 936,000 vehicles delivered last year, if we want to achieve the target this year, we need to achieve a delivery figure of 839,000 vehicles in the second half of the year. However, in the past few months, under the influence of high inflation and other factors, the global economic situation has experienced a new recession. There are signs that Tesla not only needs to struggle with production and supply chain, but also is trying to get rid of the impact of inflation on corporate costs.
In the middle of this month, Tesla raised the prices of some models in the United States and China to reduce the supply of automotive raw materials and the impact of rising battery raw material prices. At the same time, Tesla has launched a global layoff plan. It has closed an office in San Mateo, California, where employees are working on improving Tesla's driving assistance system Autopilot. More than half of the employees have been informed. The layoffs are part of Tesla's plan to cut staff at a time of rising costs. Earlier, Musk said in an email that Tesla needed to cut about 10% of its workforce because of a "super bad feeling" about the economy.
At the same time, as Tesla's production and delivery slowed down, many electric car manufacturers seemed to have regained their fighting spirit. According to statistics from the automotive industry, all major new car-making brands achieved growth in the first half of the year. Among them, NIO delivered 50,827 electric vehicles, setting a record for the best delivery volume in history. It was also the first time that delivery volume exceeded 1 since December last year. Thousands of vehicles. Xpeng Motors and Li Auto both hit new sales highs, with the former delivering 68,985 units and the latter delivering 60,403 units. It is understood that Li will start delivering its second mass-produced car, the Li L9, in August, and Xpeng will launch its new flagship SUV Xpeng G9 in September.
In addition, traditional car manufacturers also hope to take the opportunity to catch up. Recently, Volkswagen Group CEO Diess said that the problem of increasing mass production is weakening Tesla's competitiveness. Volkswagen reiterated its goal of surpassing Tesla to become the largest electric vehicle manufacturer in 2025.Diess also said, "Tesla is our strongest competitor, but its strength is weakening. Musk must simultaneously increase the production capacity of two highly complex factories in Austin and Greenhead, and expand the production capacity in Shanghai." production, but that will consume his power."
This is indeed the case. In order to build a global automobile production network, Tesla has built new factories in Berlin, Germany, and Texas, the United States. However, Musk said last week that the construction and opening of the two factories in Austin and Greenhead cost "billions of dollars" but were "basically "There is no production capacity." "This is really a huge currency melting pot, making the sound of money on fire."
At present, Tesla can only rely on the Shanghai factory, which bears the heavy responsibility of domestic sales and external supply. On June 22, according to reports from Reuters and other media, Tesla plans to suspend most of the production work at its Shanghai factory in the first two weeks of July. The reason for the suspension of production is that the factory needs to be upgraded. After the upgrade is completed, Tesla plans to bring the factory's production capacity to a new record by the end of July, approaching the goal of 22,000 vehicles per week. However, the relevant person in charge of Tesla China did not admit the authenticity of the news.
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