A tough quarter for Tesla could be more than shutdowns in China

Smooth acceleration is demonstrated by Tesla in the past two years falters in the second quarter. Managing director Elon Musk suggested that the problems go deeper than the lockdown in Shanghai.

On Saturday, Tesla reported quarterly deliveries of 254,695 units, down from 310,048 units in the first three months of the year. The news comes as no surprise due to pandemic shutdown affected the Shanghai plant in April and May. The final count was slightly below consensus expectations of 264,000, according to the report. FactSet.

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