Tesla plays whack-a-mole as deliveries drop for first time in two years


 Tesla delivered 254,695 vehicles in the second quarter, down about 18% from the first quarter. Supply chain disruptions at the company's new factories in Texas and Germany have also hit production, with analysts warning that the problems could eat into Tesla's profits. The electric car maker reported a drop in deliveries for the first time.


Shares in the world's largest electric car maker fell more than 3% but reversed course to close at 2.6% as growth stocks rallied. The stock has lost about a third of its value so far this year. 'Tesla's shine has faded again as the recent drop in deliveries fell short of expectations,\\' said Hargreaves Lansdown analyst.


J.P. Morgan says Tesla's manufacturing and financial results could be hurt by company-specific execution issues at the automaker's new plants in Texas and Berlin. Tesla CEO Elon Musk recently described the two factories as 'giant money melting pots' that are losing billions of dollars.


Tesla CEO Elon Musk recently described the two factories as \\'giant money melting pots\\' that are losing billions of dollars. Street warns that a global drop in the cost of living could have a knock-on effect on overall demand as inflation rises sharply. Some analysts expect a recovery by the end of the year.


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