Musk says Tesla delivered fewer vehicles in Q3 than it made as a consequence of infrastructure woes

• Elon Musk mentioned a scarcity of carriers, trains, and boats affected Tesla’s means to ship automobiles.
• Musk made the feedback throughout an investor’s outcomes name on Wednesday.
• The Tesla CEO added that the corporate was working to “easy out its deliveries.”

Elon Musk mentioned {that a} scarcity of carriers, trains, and boats has affected Tesla’s means to ship its automobiles to clients through the third quarter of 2022. 

Within the three months to September, Tesla produced 365,923 automobiles. Throughout the identical interval, it delivered 343,830 to clients.

That is a brand new firm file however fell under analysts’ expectations and the 22,000 deficit was a much bigger hole than common. 

“There weren’t sufficient boats, there weren’t sufficient trains there weren’t sufficient automotive carriers,” Musk informed buyers in outcomes name on Wednesday.

Musk has beforehand mentioned that Tesla would produce greater than 1.5 million automobiles this yr. The newest outcomes present it is made 929,910 thus far this monetary yr, per a Bloomberg evaluation.

Zachary Kirkhorn, Tesla’s CFO, mentioned the problem was notably current for ships from Shanghai to Europe in addition to “native trucking inside sure elements of the US and Europe.”

Musk mentioned that Tesla is working to “easy out its deliveries” to keep away from having a “loopy supply wave” on the finish of every quarter. 

Representatives for Tesla didn’t instantly reply to Insider’s request for additional remark made exterior of regular working hours.

Automakers globally have been battling provide chain shortages, backlogs, and rising uncooked supplies prices, particularly for the dear metals essential for making batteries. 

Tesla has cited international elements for hindering the corporate’s manufacturing and supply within the final two quarters, together with an enforced shutdown of its Shanghai manufacturing facility and provide chain points which were exacerbated by Russia’s invasion of Ukraine.

Regardless of a bigger deliveries deficit than common, Tesla loved a bumper quarter. 

The corporate made a internet revenue of almost $3.3 billion, on revenues of $21.45 billion through the quarter. Almost double its internet revenue of $1.6 billion throughout the identical interval final yr. 

Musk informed buyers the corporate had “wonderful demand for This autumn” and anticipated to promote each automotive they made.