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Tesla’s sales from April through to 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 electric automaker disclosed it sold more than 254,000 cars and SUVs in the second quarter, an 18 per cent 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.
Last Friday, the rest of the industry reported a 21 per cent drop in sales during the second quarter, as the average price for vehicles skyrocketed to a record of US$45,844 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.