Close Menu
    Facebook X (Twitter) Instagram Pinterest YouTube LinkedIn TikTok
    TopBuzzMagazine.com
    Facebook X (Twitter) Instagram Pinterest YouTube LinkedIn TikTok
    • Home
    • Movies
    • Television
    • Music
    • Fashion
    • Books
    • Science
    • Technology
    • Cover Story
    • Contact
      • About
      • Amazon Disclaimer
      • Terms and Conditions
      • Privacy Policy
      • DMCA / Copyrights Disclaimer
    TopBuzzMagazine.com
    Home»Technology»Tesla Sales Fall as Firm Tackles Supply Chain Issues, Pandemic
    Technology

    Tesla Sales Fall as Firm Tackles Supply Chain Issues, Pandemic

    By AdminAugust 12, 2022
    Facebook Twitter Pinterest LinkedIn Tumblr Email

    Tesla’s sales from April through June fell to their lowest quarterly level since last fall as supply chain issues and pandemic restrictions in China hobbled production of its electric vehicles.

    The company on Saturday disclosed it sold more than 254,000 cars and SUVs from April through June, an 18 percent drop from the first three months of this year and also well below the pace in last year’s final quarter.

    The last time Tesla sold fewer vehicles globally was in the third quarter of 2021 when it delivered 241,000.

    On Friday, the rest of the industry reported a 21 percent drop in sales during the second quarter as the average price for vehicles skyrocketed to a record of $45,844 (roughly Rs. 36,23,900) amid soaring inflation, according to J.D. Power.

    Tesla’s sales drop may be a harbinger of weaker second-quarter earnings for the Austin, Texas, company, which is the world’s top-seller of battery-powered vehicles and has posted net profits for nearly three years. Tesla plans to release its full results for the April-June period on July 20.

    Like many other stocks, Tesla shares have been hard hit this year. But the 35 percent decline in Tesla’s stock price hasn’t been entirely tied to the company’s see-sawing fortunes.

    Tesla CEO Elon Musk also has made a $44 billion (roughly Rs. 3,47,800 crores) bid for Twitter, which he placed on hold after complaining that it has too many spam bot users who aren’t humans. Much of the erosion in Tesla’s value has occurred since Musk became Twitter’s largest shareholder and then launched a takeover bid that has raised concerns he has too much on his already crowded plate

    Musk has used his own Twitter account, which now has more than 100 million followers, to discuss the pandemic restrictions that forced the Shanghai factory to temporarily close during the quarter. Wedbush analyst Dan Ives estimates that more than 40 percent of Tesla’s sales come from China, and that the Shanghai factory produced about 70,000 fewer vehicles due to the shutdowns.

    But Tesla signaled things are getting better Saturday, saying it produced more vehicles during June than in any other month in its history. The company didn’t disclose the number of vehicles manufactured during June.

    As of early Saturday afternoon, Musk hadn’t tweeted about Tesla’s second-quarter sales. But he created a bit of a stir late Friday with ending an uncharacteristically long nine-day silence on Twitter. His Friday tweets included one with him and four his children meeting with Pope Francis.

    Tesla’s latest delivery numbers came out a week after the release of an interview with Musk in which he described new factories in Austin and Berlin as “money furnaces” that were losing billions of dollars because supply chain breakdowns were limiting the number of cars they can produce.

    In a May 30 interview with a Tesla owners’ club that was just released last week, Musk said that getting the Berlin and Austin plants functional “are overwhelmingly our concerns. Everything else is a very small thing,” Musk said, but added that “it’s all gonna get fixed real fast.”

    Musk also has discussed making salaried workers return to offices and a possible 10 percent cut in Tesla’s work force due to a possible recession.

    Supply chain breakdowns since the onset of COVID-19 two years ago have been especially debilitating for automakers, who get parts from all corners of the globe. A lack of computer chips needed to run cars’ computers compounded automakers’ problems and sent prices for used and new cars skyrocketing.

    As the pandemic erupted in the U.S. in 2020, automakers had to shut factories for eight weeks to help stop the virus from spreading. Some parts companies canceled orders for semiconductors. At the same time, demand for laptops, tablets and gaming consoles skyrocketed as people stuck at home upgraded their devices.

    By the time auto production resumed, chip makers had shifted production to consumer goods, creating a shortage of weather-resistant automotive-grade chips. Although Tesla has fared better than other automakers, the industry still can’t get enough chips.

    Read The Full Article Here

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Early Prime Day Deals: $100 Off 2 Best-Selling Espresso Makers

    October 1, 2025

    How live sports betting has exploded in popularity in the US, accounting for more than half of the money wagered on FanDuel and DraftKings in recent quarters (Jenny Vrentas/New York Times)

    October 1, 2025

    40 Best Early Amazon Prime Day Deals on WIRED-Tested Gear (2025)

    September 30, 2025

    Analysis: US wholesale electricity now costs as much as 267% more for a single month than it did in 2020 in areas located near significant data center activity (Bloomberg)

    September 30, 2025

    OpenAI Is Preparing to Launch a Social App for AI-Generated Videos

    September 29, 2025

    EA’s buyout talks highlight the slowdown and consolidation trends in the $178B global gaming market after the COVID boom, as gamers are sticking to old titles (Jason Schreier/Bloomberg)

    September 29, 2025
    popular posts

    Meghan Markle Just Wore the Colour That Experts Agree Looks

    Brodie Avenges a Friend, Bussey Takes the Stage on ‘Queer

    Bad Bunny Reaches Tentative Settlement in ‘Safaera’ Copyright Lawsuit

    Electric 2-Wheeler Penetration to Touch 100 Percent in Five Years:

    Don’t Miss: NASA’s first steps toward new moon mission via

    Cyclic RNA switches that regulate gene expression in a cell

    6 Fantasy & Sci-Fi Series to Read This Fall

    Categories
    • Books (3,444)
    • Cover Story (8)
    • Events (19)
    • Fashion (2,545)
    • Interviews (45)
    • Movies (2,744)
    • Music (3,028)
    • News (161)
    • Politics (6)
    • Science (4,594)
    • Technology (2,739)
    • Television (3,469)
    • Uncategorized (932)
    Archives
    Facebook X (Twitter) Instagram Pinterest YouTube Reddit TikTok
    © 2025 Top Buzz Magazine. All rights reserved. All articles, images, product names, logos, and brands are property of their respective owners. All company, product and service names used in this website are for identification purposes only. Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Terms of Use and Privacy Policy.

    Type above and press Enter to search. Press Esc to cancel.

    We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
    Do not sell my personal information.
    Cookie SettingsAccept
    Manage consent

    Privacy Overview

    This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
    Necessary
    Always Enabled
    Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
    CookieDurationDescription
    cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
    cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
    cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
    cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
    cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
    viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
    Functional
    Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
    Performance
    Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
    Analytics
    Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
    Advertisement
    Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
    Others
    Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
    SAVE & ACCEPT