The firm included an update on car delivery growth, rooftop solar installation growth, Supercharger expansion, service center development, mobile service fleet growth, and more in its 2nd quarter report, which was just issued. After looking at Tesla’s second quarter financials, let’s examine these other issues.
MODEL 3 ANDAMP; Y PRODUCTION AND DELIVERIES BY TESLA Production of the Model 3 and Model Y increased by 19% in the second quarter of 2022 compared to the second quarter of 2021. That’s not the 50% growth Tesla is used to and depending on, but lockdowns in Shanghai and other supply and logistics challenges on a worldwide scale seriously hampered Tesla’s production goals. Additionally, the growth that offers Tesla 50% growth annually is typically not a steady ramp; rather, it is step-change growth. Production will significantly increase when Tesla’s new plants ramp up, helping it to reach those higher yearly growth ambitions. Let’s save this and return to it once the third quarter figures are out.
In this instance, the YoY increase in deliveries was practically identical to 20 percent.
MODEL S ANDAMP; X PRODUCTION AND DELIVERIES BY TESLA On the other hand, the Model S and Model X experienced tremendous growth. Production increased by 601 percent, and delivery increased by 753 percent! Nevertheless, the situation was peculiar, and S andamp; X sales are still so small in comparison to 3 andamp; Y sales that their expansion is only marginally significant. The problem with the Q2 2021 numbers is that due to production delays and interior revisions, S andamp; X production was almost completely stopped. Production and delivery increased dramatically, going from a few thousand in Q2 2021 to over 16,000 in Q2 2022.
Overall, Tesla saw a 25% increase in car production and a 27% increase in vehicle deliveries as a result of the large percentage growth but restricted volume growth compared to the moderate 3 andamp; Y growth noted above.
THERMAL STORAGE USING TESLA SOLAR
The growth of Tesla solar installations increased by a comparable amount last quarter. Tesla solar roof deployment increased by 25% year over year in terms of megawatts. In actuality, that was the largest quarter of solar PV growth for Tesla in a very long time.
Interestingly, though, Tesla’s installed numbers for stationary energy storage decreased from the previous year (-11 percent in Q2 2022 versus Q2 2021).
Stores, service locations, and a mobile service fleet for Tesla Although some people were worried that Tesla service would not be able to keep up with sales, the business is actually outperforming expectations in this area. However, the Tesla mobile service fleet—which is frequently what repairs Tesla vehicles—was up a solid 33 percent. Tesla stores and service centers were up 19% YoY. These days, I don’t think maintaining Tesla cars presents a substantial challenge, and this helps to explain why.
SUPERCHARGERS BY TESLA Growth of the Tesla mobile fleet and Supercharger network are both trending in the same direction ( gotta have somewhere to charge those fleet vehicles ). Over the previous year, they increased by 34%.
There are currently about 4,000 Tesla Supercharger sites, up from little more than 1,000 in Q1 2018. Up to 36,000 supercharger connections (ports) are available.
BETA TESLA FSD That is all hardware development. Let’s finish up with a software issue. How much mileage is the Tesla FSD Beta increasing? More than 100,000 Tesla vehicles have FSD Beta installed as of this writing, and FSD Beta mileage increase is increasing. Tesla has now traveled more than 35 million miles with FSD Beta.
In the upcoming days, we’ll go through a few additional points from Tesla’s quarterly shareholder letter and conference call.
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