According to an announcement made by Tesla on Monday, the carmaker delivered 405,278 electric cars in the last three months of 2022. This is a new high for the corporation, but it falls short of Wall Street expectations. As recently as December 30th, most experts predicted that Tesla would deliver around 418,000 units in Q4. During the same time last year, the business delivered 308,600 vehicles.
Tesla claims that in the fourth quarter of 2022, the Model 3 and Model Y accounted for the majority of the company’s deliveries, with 388,131 of those cars reaching customers before the end of the year. In comparison, Tesla’s more premium Model S and Model X vehicles accounted for just 17,147 deliveries over the same time period. Tesla manufactured 439,701 automobiles in the fourth quarter, a new high.
The end of 2022 might have been better for Tesla. Even before contemplating the impact of Elon Musk’s purchase of Twitter, Tesla faced macroeconomic and logistical problems that threatened to limit development. COVID-19 regulations in China caused Tesla to pause and curtail output at its Shanghai Gigafactory, as they did earlier this year. Tesla also shut down the factory in the last week of December, adding to fears that the business is coping with dwindling demand in the world’s largest car market. Tesla also had difficulty arranging transportation for finished automobiles in Q4.
The value of the company’s shares fell sharply as a result of Elon Musk’s management of Twitter and repeated stock selloffs at Tesla. Tesla’s stock plunged 33% in December (and 45 per cent in the previous six months) before rising in anticipation of the company’s fourth-quarter results. Tesla will release its complete fourth-quarter numbers on January 25th, and its next annual Investor Day presentation will take place on March 1st.
