Tesla second-quarter vehicle delivery, Germany initiates vehicle recalls

Tesla has released its 2022 second-quarter vehicle manufacturing and delivery figures. It reported 254,695 deliveries overall in Q2 2022 and total production of 258,580 electric vehicles.

The closest indicator of sales reported by Tesla is delivery numbers, which came up barely short of analysts' projections.

Analysts were anticipating 256,520 vehicle deliveries for the quarter, which was characterized by COVID restrictions, supply chain bottlenecks, and shortages of semiconductor chips and other parts.

The EV giant delivered 201,250 vehicles in the same period a year ago, marking the first time the company had shipped more than 200,000 units in a three-month span. Tesla shipped 310,048 automobiles during the first quarter of 2022.

For the company, these figures indicated sales growth of 26.5 percent year over year and a fall of 17.9 percent sequentially.

Long-term growth targets for Tesla have been soft-guided to be about 50%, dependent on industrial capacity and other considerations.

Tesla stated, "We plan to grow our manufacturing capacity as quickly as possible," in its first-quarter shareholder report. It added that it anticipates a 50 percent average yearly growth in deliveries over a multi-year horizon.

‘German agency reports software glitch in Tesla vehicles’

Tesla models Y and 3 are being recalled by Germany's road traffic administration due to a flaw in its automatic emergency call system which affects 59,000 vehicles worldwide.

The eCall, which is intended to immediately summon emergency services in the event of a catastrophic accident, is malfunctioning, the KBA watchdog said on its website on June 29.

The recall was initially announced on Saturday by German regional radio Rundfunk Berlin-Brandenburg, which covers the area where Tesla's German model Y and battery production facility are located close to Berlin, according to news reports.

KBA did not estimate, however, how many of the 59,129 automobiles affected worldwide were registered in Germany.

The US National Highway Traffic Safety Administration (NHTSA) has also upgraded its investigation into 830,000 Tesla vehicles equipped with the advanced driving assistance system Autopilot, before it would initiate a recall.

Elon Musk, the CEO of Tesla, is already dealing with problems with his company's production and supply chain because to the Covid-19-related shutdown in China, which impacted deliveries of electric vehicles in the second quarter, which resulted in 17.9% fewer deliveries than in the first quarter.

Tesla's new plants in Texas and Berlin, according to Musk, are "losing billions of dollars" as they try to raise production amid a battery shortage and problems with Chinese ports.

On Friday, the price of Tesla's stock increased from $673.42 to $681.79, rising 1.24 percent after the session ended.

The intraday range for Tesla shares, which ran from a day low of $666.36 to a day high of $690.69, was the narrowest in the previous seven days. The stock volume was down by 11 million shares and $14 billion in value, or 79% of the average volume from the previous trading day. The succeeding trading sessions may see price fluctuations as a result of this low volume.

According to FXStreet, the price may continue to move downward after smashing the $620 support and maybe aiming for the $450 price level. The price is currently at the peak of the negative trend. A break over the $785 resistance, however, might signal a possible short buy with a target price of at least $865 to close the gap. In this instance, keep an eye out for trading in the limited $734 to $784 area.