Tesla, the world’s most valuable car company, prepared an unpleasant surprise for its investors at the end of the second quarter. In fact, it delivered almost 18 percent fewer electric vehicles to its customers in the quarter-on-quarter comparison.
Tesla delivered nearly 255,000 vehicles from April to June. However, in the period from January to March it was over 310,000 cars. This resulted in a quarter-on-quarter decline of around 55,000 EVs, a difference of almost 18%.
Tesla blames Covid measures in world’s most populous country
According to Tesla representatives, however, this drop is quite easy to explain. The main cause is the decline in production in China, where relatively severe restrictions have been adopted after another wave of coronavirus epidemics began to rise in several cities (mainly Shanghai).
Price increases for individual models are inevitable
Tesla also raised prices on some of its models again in June. According to Tesla CEO Elon Musk, the automaker had virtually no choice as the price of materials was rising and shipping and logistics fees for critical parts were also rising. Musk has previously indicated that Tesla will have to lay off about a tenth of its workforce due to the expected deterioration in the world’s economic condition.