Tesla had previously reported that a record number of more than 310,000 cars had been delivered in recent months. Due to disruptions in logistics, it was an “exceptionally difficult” quarter.
Higher production
Tesla closed the measurement period with revenue of $18.7 billion. That was over $10 billion a year earlier. Sales were boosted by higher production at factories in Shanghai and Berlin. In Germany, the first cars rolled off the production line in March. In China, lockdowns do cause disruptions. The Chinese factory has now partially started up again. Earnings were $3.2 billion against $438 million remaining after the first quarter of 2021.
Like other automakers, Tesla is experiencing delivery issues. Chips are especially scarce. In addition, it is also becoming increasingly difficult to obtain metals for batteries, such as lithium. Tesla CEO Elon Musk said on Twitter that he was thinking about starting mines to secure the supply of materials.
The quarterly figures were well received by investors. Tesla shares rose more than 4% in after-hours trading. Just before that, the stock was down 5%.