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Tesla’s Bumpy Quarter Might Be About More Than Lockdowns in China

The easy acceleration proven by Tesla in the previous two years faltered in the second quarter. Chief Executive Elon Musk has supplied hints that the issues run deeper than lockdowns in Shanghai.

On Saturday, Tesla reported quarterly deliveries of 254,695, down from 310,048 in the primary three months of the 12 months. The information got here as no nice shock given the pandemic-related shutdowns that affected its Shanghai manufacturing unit in April and May. The remaining tally was barely under consensus expectations of 264,000, in line with FactSet.

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