agent Entrepreneur logo
MenuMENU
SearchSEARCH

Tesla Woes Improving

The EV automaker appears positioned for another growth phase as long as the global economy stays strong, analysts say.  

July 21, 2022
Tesla Woes Improving

Tesla Founder and CEO Elon Musk

Credit:

Wikipedia

2 min to read


 

Tesla’s pause to expansion plans in the second quarter may bring down earnings, but the automaker’s factory troubles in China, Texas and Berlin appear to be improving. 

Now the EV automaker appears positioned for another growth phase as long as the global economy stays strong, analysts say.  

Ad Loading...

"Despite all the drama and the ups and downs with Mr. Musk, it's worth sticking with it," George Gianarikas, analyst at Canaccord Genuity, said in an interview with CNBC last week. The analyst called Tesla "Apple on steroids" because of the automaker's lead in the electric vehicle race.

Tesla is expected to show a rise in quarterly revenue with its reporting on July 20, according to Reuters. Analysts expect the automaker to report revenue of $17.09 billion for the quarter, a 43% increase from $11.96 billion in 2021.

In June, Musk noted the newly opened auto plants in Berlin and Austin were losing billions of dollars as they ramped up production. But as production picks up, and the automaker's China plant expands, Tesla could post increased revenue in the second half of the year.   

The company reported in early July that its global deliveries fell 18% to 254,695 in the second quarter after two years of gains. But the automaker compared that downturn with the first quarter, not to the quarter a year-earlier. In a year-on-year comparison, Tesla's sales rose 27%.

Tesla called June 2022 “the highest vehicle production month in Tesla history” in a press release, indicating China was back online and production had increased in Texas and Berlin.

Ad Loading...

Tesla said in the press release that June 2022 "was the highest vehicle production month in Tesla's history" — an indication that China was fully back online, and Texas and Berlin were seeing higher volume production.

Still, investors and financial analysts would like to know where the company stands on a few key issues:

AI. Tesla Director of Artificial Intelligence (AI), Andrej Karpathy, has announced plans to leave the company. The company is counting on AI capabilities to make its vehicles fully autonomous.

Layoffs. Tesla has laid off hundreds of workers after CEO Elon Musk warned of an economic downturn in June. The company also has permanently closed its San Mateo, Calif., office and laid off its 229 workers.

Lawsuit. Workers have filed a lawsuit over layoffs at the company's Nevada battery factory.

Ad Loading...

Battery Factry. Panasonic, a partner with Tesla in the Giga Nevada battery plant, has announced it will build a battery factory in Kansas to meet growing battery demand.

Products: Investors seek product updates, on the Cybertruck, which is expected sometime next year, the company’s new humanoid robot, Optimus, and dedicated autonomous taxis without driver controls.

Originally posted on Auto Dealer Today

More Industry

Blue and white RV parked on beach facing the ocean.
Industryby Lauren LawrenceSeptember 3, 2026

RV Group Expands Carolina Footprint

Blue Compass RV Columbia Northeast is the 13th RV dealership owned by Blue Compass in the Carolinas.

Read More →
Photo of two men and one woman on a discussion panel
Industryby Hannah MitchellSeptember 1, 2026

Agent Acumen

An Agent Summit panel of people who’ve been supporting auto dealers for years gave both timely and timeless advice for those starting out or mulling the prospect.

Read More →
Gloved hand holding two wrenches next to “Turn Overdue into Opportunity” Graphic
Industryby Lauren LawrenceAugust 27, 2026

Missed Maintenance Creates Opportunity

As families get back on the road and into daily school routines, service drives have an opportunity to capture customers who are behind on recommended vehicle maintenance.

Read More →
Ad Loading...
Mitsubishi shadow line-up
Industryby Hannah MitchellAugust 25, 2026

Mitsubishi Unveils U.S. Plan

The automaker announced a strategy that includes an expanded lineup and dealership presence, along with more ‘rugged’ and electric models.

Read More →
Photo of a laptop, cellphone and eyeglasses on a desk next to an office window
IndustryAugust 24, 2026

Selling to Grow

The question of whether you should sell your agency and if so, when, is up to you. But it’s a question worth asking to ensure you keep the business on the right path for yourself, employees and clients.

Read More →
Mechanic holding a vehicle diagnostic device while standing above an open car hood
Industryby Hannah MitchellAugust 24, 2026

Recalled Vehicles Hit 5-Year High

Though the number of events has fallen so far this year, impacted units are up significantly. Meanwhile, regulators consider consumer notification changes.

Read More →
Ad Loading...
outside of car dealership with cars parked in front
Industryby Lauren LawrenceAugust 20, 2026

Auto Group Acquires Top-Performing Rooftop

Car Pros sold its Kia Huntington Beach location to Sutherlin Automotive Group, marking the buyer’s third location in Southern California.

Read More →
Cars from the rear on a Shanghai freeway
Industryby Hannah MitchellAugust 19, 2026

China as Pacesetter

Automotive leaders huddled on where North America stands in the global picture and how it can strengthen its position against the Asian juggernaut’s surging industry.

Read More →
Orange BMW car on empty road.
Industryby Hannah MitchellAugust 14, 2026

BMW Concept Car Makes Fuel to Burn

The prototype developed in concert with a South Carolina university engineering team generates more solar energy than it uses in a typical daily commute.

Read More →
Ad Loading...
Six men standing for photo outside of car dealership
Industryby Lauren LawrenceAugust 13, 2026

South Carolina Auto Group Downsizes

Florida-based group Holler-Classic has acquired four rooftops, its first in South Carolina, from Dick Smith Automotive Group.

Read More →
Ad Loading...