Tesla just reported the year-end vehicle production and delivery numbers for the year 2022.
Here are the key numbers.
Total Deliveries Q4 2022: 405,278
Total Production Q4 2022: 439,701
Total Annual Deliveries in 2022: 1.31 million
Total Annual Production 2022: 1.37 million
Whilst the company saw a 40% growth in deliveries and production, the company failed to achieve the projected 50% growth expected this year. Tesla was required to reach a sum of 495,760 deliveries in the fourth quarter. However, there is a hike in Tesla’s deliveries from 343, 830 in the third quarter.
In its Third Quarter Tesla wrote;
“Over a multi-year horizon, we expect to achieve 50% average annual growth in vehicle deliveries. The rate of growth will depend on our equipment capacity, factory uptime, operational efficiency, and the capacity and stability of the supply chain.”
Tesla reported 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 started production at two more new factories, Austin, Texas, and Brandenburg, Germany. The company also accelerated its production in Fremont, California, and in Shanghai.
Tesla faced many challenges in sales in China due to the surge in Covid cases in December 2022 as production was suspended and cut down greatly in the Shanghai factory.
In their fourth quarter of last year, Tesla brought in a lot of price cuts in areas like the USA and China to propel demand even though it could have proven to be a great loss to the company.
Tesla’s electric vehicles are comparatively a little too expensive than its competitors, many analysts expressed their concerns about the depreciating demand of Tesla in the electric industry as well the fall of shares in the stock market in December.
Tesla is set to capitalize on Biden’s Inflation Reduction Act this year, which contains incentives for American production and purchases of fully electric cars, alongside rivals including industry stalwarts Ford and GM and upstart Rivian.
Retail investors and analysts alike blamed a so-called “Twitter overhang” for a portion of Tesla’s declining share price in 2022.
Musk bought a social media site called “Twitter”, for this Musk had to sell billions of dollars worth of Tesla holdings. The deal was finalized in late October. Musk took over the social media company as the CEO, this has been in constant light surrounded by controversy and debate. Tesla’s shares went up again at the near end of December.
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