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Tesla (TSLA) had 27.9% automotive gross margins in Q2 2022

Tesla anticipates a 'record-breaking second half of 2022.'

Ozzie Mejia

July 20, 2022 1:18 PM

Tesla

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Tesla (TSLA) has had its ups and downs over the course of its Q2 2022 earnings report. However, the company appears to be selling its cars at a decent rate. On Tuesday, Tesla issued its quarterly earnings and reported a 27.9 percent automotive gross margin for Q2 2022.

Tesla's report notes that the Gigafactory Berlin hit a major milestone over the past quarter. Here's the summary from the Tesla earnings report to explain:

New factories in Berlin-Brandenburg and Austin continued to ramp in Q2. Gigafactory Berlin-Brandenburg reached an important milestone of over 1,000 cars produced in a single week while achieving positive gross margin during the quarter. From our Austin factory, the first vehicles with Tesla-made 4680 cells and structural battery packs were delivered to our U.S. customers. We are continuing to invest in capacity expansion of our factories to maximize production.

Tesla's report goes on to note that the German team has been focused on producing the Model Y vehicles and that its production rate should continue to increase throughout the rest of the year. The company is expecting production to ramp up with the introduction of new products and manufacturing technologies across Tesla's various locations. Tesla is anticipating a "record-breaking second half of 2022" based on these projections.

The report also goes on to hail the production efforts in the Tesla Fremont and Shanghai factories, which have achieved their highest-ever production months.

We'll have more on Tesla's Q2 2022 throughout the day. Be sure to tune in to the Q2 2022 earnings call and follow Shacknews' continuing Tesla coverage.

Ozzie Mejia

Senior Editor

Ozzie has been playing video games since picking up his first NES controller at age 5. He has been into games ever since, only briefly stepping away during his college years. But he was pulled back in after spending years in QA circles for both THQ and Activision, mostly spending time helping to push forward the Guitar Hero series at its peak. Ozzie has become a big fan of platformers, puzzle games, shooters, and RPGs, just to name a few genres, but he’s also a huge sucker for anything with a good, compelling narrative behind it. Because what are video games if you can't enjoy a good story with a fresh Cherry Coke?