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Tesla reported that 1.31 million deliveries in 2022, a transition of 40% over the previous year

Tesla reported that 1.31 million deliveries in 2022, a transition of 40% over the previous year

January 3, 2023: Tesla just published its fourth-quarter vehicle display and delivery report for 2022.

Deliveries are the nearest approximation of sales disclosed by Tesla. These numbers represented a recent record for the Elon Musk-led automaker and an increase of 40% in deliveries yearly.

Therefore, the fourth quarter numbers decrease shy of analysts’ expectations.

The consensus of people estimates compiled by FactSet, as of December 31, 2022, Wall Street was anticipating Tesla to report deliveries of nearly 427,000 for the final quarter. Estimates updated in December, including in the FactSet consensus, starting from 409,000 to 433,000.

These latest estimates were in line with a firm-compiled consensus distributed by Tesla investor relations Vice President Martin Viecha. That consensus, stamped by electric vehicle industry researcher @TroyTeslike, stated that 24 sell-side analysts anticipated Tesla deliveries of 417,957 on average for the quarter.

Tesla started production at two recent factories in Austin, Texas and Brandenburg, Germany and ramped up production in Fremont, California and Shanghai. Still, it does not reveal production and delivery numbers by region.

In the fourth quarter of 2022, Tesla stated deliveries of its entry-level Model 3 sedan and Model Y crossover, such as 388,131, while providing its higher-end Model S sedan and Model X SUV amounted to 17,147.

In its third-quarter shareholder presentation, Tesla stated, “Over a multi-year horizon, we anticipate achieving 50% average annual growth in vehicle deliveries. The growth rate depends on our equipment capacity, operational efficiency and the capability and stability of the supply chain.”

The period is ending on December 31, 2022, marking challenges for Tesla, including Covid outbreaks in China, causing the company to suspend and temporarily decrease production at its Shanghai factory.

In the fourth quarter, Tesla also offered steep cost cuts and other promotions in the U.S., China and elsewhere to spur demand, even though like put pressure on its margins.

In the latest e-mail to Tesla staff, Elon Musk asked employees to “volunteer” to provide as many cars to customers as possible before the 2022 end. Musk has also encouraged such not to be “bothered” by what he stated as “stock market craziness.”

Shares of Tesla tumbled by more than 45% over the last six months.

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