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1.3 Million Tesla Cars Delivered in 2022, Up 40% From Last Year

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1.3 Million Tesla Cars Delivered in 2022, Up 40% From Last Year

(CTN News) – Tesla recently released its 2022 fourth-quarter report on car production and deliveries.

Here are the key numbers.

  • Total deliveries Q4 2022: 405,278
  • Total production Q4 2022: 439,701
  • annual deliveries 2022: 1.31 million
  • Total annual production 2022: 1.37 million

The closest representation of Tesla’s declared sales is via deliveries. These figures indicated a new high for the Elon Musk-run company and a 40% increase in deliveries from the previous year.

The fourth quarter figures, however, fell short of experts’ predictions.

As of December 31, 2022, Wall Street was anticipating Tesla to announce deliveries of roughly 427,000 for the year’s last quarter, according to an average of analysts’ projections gathered by FactSet.

The FactSet consensus includes estimates that were revised in December and had a range from 409,000 to 433,000.

These more current projections were by a company-compiled consensus given out by Martin Viecha, vice president of investor relations at Tesla.

According to that consensus, compiled by @TroyTeslike, a researcher in the electric car market, 24 sell-side analysts anticipated Tesla deliveries to total roughly 417,957 on average for the quarter (and about 1.33 million deliveries for the full year).

Tesla scaled up manufacturing in Fremont, California, and Shanghai this year, and it began production at two new plants in Austin, Texas, and Brandenburg, Germany. However, the company doesn’t break out production and delivery figures by area.

Tesla said that 388,131 Model 3 sedans and Model Y crossovers were delivered in the fourth quarter of 2022, while 17,147 Model S sedans and Model X SUVs were delivered.

Tesla stated: “Over a multi-year timeframe, we anticipate achieving a 50% average annual increase in car deliveries” in its third-quarter shareholder presentation.

The capacity of our equipment, factory uptime, operational effectiveness, and the capacity and stability of the supply chain will all affect the pace of growth.

Tesla faced difficulties in the year ending December 31, 2022, including Covid outbreaks in China, which forced the business to temporarily halt and scale down production at its Shanghai facility.

While doing so would strain company profits, Tesla also gave significant price reductions and other promotions throughout the fourth quarter in the US, China, and other countries to increase demand.

Elon Musk recently requested Tesla workers in an email to “volunteer” to deliver as many vehicles as they can to consumers by the end of 2022.

Musk also urged staff members not to be “bothered” by the “stock market madness” in his e-mail.

Tesla’s stock fell by more than 45% in the previous six months.

Because Tesla electric cars are relatively pricey compared to a growing number of hybrid and fully electric goods from rivals, numerous analysts raised concerns about declining demand for Tesla electric vehicles in December.

Tesla is positioned to gain from Biden’s Inflation Reduction Act this year, which contains incentives for domestic manufacturing and purchasing fully electric vehicles, alongside rivals including industry stalwarts Ford and GM and startup Rivian.

Retail investors and experts blamed a so-called “Twitter overhang” for a portion of Tesla’s declining share price in 2022.

Last year, Musk traded billions of dollars worth of Tesla stock to pay for a leveraged acquisition of Twitter. It was finalized in late October.

Musk took over as CEO of Twitter and has since made significant changes to the organization and its social media platform, igniting debate.

In the closing days of December 2022, Tesla stock began to surge again on expectations of record fourth-quarter and full-year deliveries.

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