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Tesla just shared its second-quarter vehicle production and delivery numbers for 2022. Here are the key numbers:

Total deliveries Q2 2022: 254,695

Total production Q2 2022: 258,580

Delivery numbers —which are the closest approximation of sales reported by Tesla —  were slightly below analysts’ expectations.

Analysts expected deliveries of 256,520 vehicles for the second quarter, according to a consensus compiled by FactSet-owned Street Account. Delivery was negatively affected by Covid restrictions, supply chain snarls, semiconductor chips, and other parts shortages. 

Last year, Tesla delivered 201,250 vehicles in the second quarter, its first time delivering more than 200,000 units in a three-month period. In the first quarter of 2022, Tesla delivered 310,048 vehicles.

Today’s delivery numbers represent a sales growth of 26.5% year-over-year, and a 17.9% decline sequentially for Elon Musk’s electric vehicle venture.

The company has soft-guided to around 50% average annual growth, long-term, depending on manufacturing capacity and other factors.

In Tesla’s first-quarter shareholder deck, the company said, “We plan to grow our manufacturing capacity as quickly as possible. Over a multi-year horizon, we expect to achieve 50% average annual growth in vehicle deliveries.”

Meanwhile, Tesla is struggling with the high costs of building out and starting up production at new factories in Austin, Texas, and near Berlin in addition to its Fremont, California, and Shanghai plants. CEO Elon Musk has said the new factories are costing Tesla billions, and still have not yet been able to make enough vehicles and batteries to justify their costs.

As startups and legacy automakers offer more new electric vehicles, Tesla’s share of the global and domestic EV market is expected to decrease but remain substantial.