Tesla's deliveries fall, hurt by China's Covid shutdown

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Tesla, the world's biggest electric car maker, said it delivered 254,695 vehicles in the April to June period compared with 310,048 vehicles in the preceding quarter and ending a nearly two-year-long run of record quarterly deliveries.

The world's biggest electric car maker said over the weekend that it delivered 254,695 vehicles in the April to June period.

Tesla is ramping up production at the Shanghai factory with the easing of the Covid-19 lockdown, which will help boost deliveries in the second half. Analysts had expected Tesla to report deliveries of 295,078 vehicles for the April to June period, according to Refinitiv data. China has been instrumental in Tesla's rapid increase of vehicle production, with the low-cost, lucrative Shanghai factory producing roughly half of the company's total cars delivered last year.

 

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