Tesla TSLA Q4 2022 Vehicle Delivery and Production Numbers

Tesla has just published its fourth quarter vehicle production and distribution report for 2022.

Here are the prime numbers.

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

Deliveries are a close approximation of sales reported by Tesla. These numbers represent a new record for the Elon Musk-led automaker and a 40% increase In childbirth from year to year.

However, the fourth quarter numbers came in below analysts’ expectations.

Wall Street was expecting Tesla to report about 427,000 deliveries for the final quarter of the year, through December 31, 2022, according to a consensus estimate of analysts compiled by FactSet. Estimates updated in December, and included in the FactSet consensus, ranged from 409,000 to 433,000.

Those more recent estimates were in line with a company-compiled consensus distributed by Martin Weicha, vice president of Tesla investor relations. That Consensus, published by Electric Vehicle Industry Researcher @TroyTeslikesaid 24 sell-side analysts expected Tesla deliveries on average of about 417,957 for the quarter (and about 1.33 million deliveries for the full year).

Tesla began production at two new factories this year — in Austin, Texas, and Brandenburg, Germany — and increased production in Fremont, California, and Shanghai, but it did not disclose production and delivery numbers by region.

In the fourth quarter of 2022, Tesla said deliveries of its entry-level Model 3 sedan and Model Y crossover totaled 325,158, while deliveries of its high-end Model S sedan and Model X SUV totaled 18,672.

In its third-quarter shareholder presentation, Tesla wrote: “Over a multi-year horizon, we expect to achieve 50% average annual growth in vehicle deliveries. The rate of growth will be driven by our equipment capacity, factory uptime, operational efficiency and capacity.” And the stability of the supply chain.”

The period ending December 31, 2022 was marked by challenges for Tesla, including the COVID outbreak in China, which caused the company to temporarily suspend and reduce production at its Shanghai factory.

During the fourth quarter, Tesla offered steep price cuts and other promotions in the US, China and elsewhere to spur demand, although doing so could put pressure on its margins.

In a recent e-mail to Tesla employees, Elon Musk asked employees to “volunteer” to deliver as many cars as possible to customers before the end of 2022. In his e-mail, Musk also encouraged employees not to “get bogged down” by what he called “the craziness of the stock market.”

shares of Tesla fell more than 45% in the last six months.

In December, several analysts expressed concern about weak demand for Tesla electric vehicles, which are relatively expensive compared to a growing number of hybrid and fully electric products from competitors.

From industry giants to competitors ford And GM to top RivianTesla is set to take advantage of Biden’s Inflation Relief Act this year, which includes incentives for the domestic production and purchase of fully electric cars.

Retail shareholders and analysts alike blame the so-called “Twitter overhang” for Tesla’s falling share price in 2022.

Musk sold billions of dollars of his Tesla holdings last year to finance a leveraged buyout of social media business Twitter. That deal closed in late October. Musk appointed himself CEO of Twitter and sparked controversy by overhauling the company and its social media platform.

Tesla shares began rising again in the final days of December 2022 in anticipation of a record fourth-quarter and full-year delivery.

Source link

Leave a Comment