Reuters
Tesla plays ‘whack-a-mole’ with snags as deliveries fall for first time in two years
Tesla Inc faces a series of hurdles ranging from production snags to rising inflation that may hit profits, Wall Street analysts said on Tuesday, as the electric-car maker reported a fall in deliveries for the first time in two years. Stung by China’s COVID-19 lockdowns and soaring costs, Tesla said on Saturday it delivered 254,695 vehicles in the second quarter, down about 18% from the first quarter. Supply chain snarls at the company’s newer facilities in Texas and Germany also hurt production, with analysts warning that these issues may crimp Tesla’s profits.