Facing difficulties that coincided with inflation, lack of components, price increase of raw materials, factory closure due to Covid, Tesla still set a sales record in the first quarter of 2022.
Tesla has just released its business results for the first quarter of 2022. Accordingly, the company has sold a total of 310,048 vehicles to consumers while the actual production volume reached 305,407 vehicles.
At the same time last year, the world’s largest electric car company sold 184,800 vehicles and produced 180,338 vehicles. Tesla Model 3 and Model Y continue to be the company’s main products, accounting for 95% – equivalent to 295,324 vehicles.
The company produced 4,641 fewer vehicles than it shipped, mainly due to “supply chain challenges and factory closures”.
Analysts had expected Tesla to sell 278,000 to 357,000 vehicles this quarter.
The company just opened a new factory in Brandenburg, Germany and cut the ribbon on March 22. The company also moved from headquarters to Austin on December 1, but kept its first electric vehicle factory in Fremont, California.
On a global scale, Tesla’s production and business activities face great challenges when China is on a large-scale blockade due to the recent Covid-19 outbreak. Its factory in Shanghai had to temporarily close. In the fourth quarter of 2021, Tesla delivered 308,600 vehicles – a company record.
Tesla, along with the entire auto industry, has been hit hard by parts shortages as well as inflation. Important components such as semiconductors remain in serious shortage while raw materials such as nickel and aluminum have increased sharply after Russia’s armed conflict with Ukraine. In the US, customers who buy Tesla cars have to wait many months to receive the car.
In mid-March, CEO Elon Musk warned that inflation was putting enormous pressure on the auto industry. The company was forced to raise car prices in the US and China.
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