Tesla delivered over 405,000 vehicles in Q4 2022, setting a new company record


Tesla delivered 405,278 electric vehicles over the final three months of 2022, the automaker announced on Monday. That number represents a new record for the company, but it also fell short of Wall Street estimates. As recently as December 30th, the consensus among most analysts was that Tesla would deliver about 418,000 vehicles in Q4. A year earlier, the company delivered 308,600 cars during the same period.

According to Tesla, the Model 3 and Model Y made up most of the company’s deliveries in the fourth quarter of 2022, with 388,131 of those vehicles making their way to consumers before the end of the year. Comparatively, Tesla’s more expensive Model S and Model X cars accounted for a modest 17,147 deliveries over the same time frame. Tesla produced 439,701 vehicles in the fourth quarter, setting another record.

It’s fair to say the end of 2022 could have gone better for Tesla. Even before considering how much Elon Musk’s takeover of Twitter has hurt the company, Tesla was faced with macroeconomic and logistical challenges threatening to slow growth. As they did earlier in the year, COVID-19 restrictions in China forced Tesla to suspend and reduce production at its Shanghai Gigafactory. Tesla also closed the facility during the last week of December, adding to concerns the company has been dealing with weakening demand in the world’s biggest automotive market. In Q4, Tesla also had trouble securing transportation for completed vehicles.

Separately, Elon Musk’s handling of Twitter and repeat Tesla stock selloffs saw the value of the company’s shares drop dramatically. In December, Tesla’s stock fell 33 percent (and 45 percent over the last six months) before rallying in anticipation of the company’s fourth-quarter numbers. Tesla will publish its full Q4 results on January 25th and hold its next annual Investor Day presentation on March 1st.

All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission. All prices are correct at the time of publishing.





Source link: https://www.engadget.com/tesla-delivers-record-405278-vehicles-during-q4-2022-203616206.html?src=rss

Sponsors

spot_img

Latest

Every Remote Worker Needs These $99.99 Beats Studio Buds+ with Noise Cancellation

Disclosure: Our goal is to feature products and services that we think you'll...

There was nothing I could do about Putin – POLITICO

Former German Chancellor Angela Merkel said that she no longer saw any possibility of influencing Russian President Vladimir Putin toward the end of...

Want To Raise A Leader? Teach Them To Invent

When you consider the challenges facing the world, the temptation to become depressed, apathetic, and cynical is great. These problems are so complicated,...

Why Is It So Hard for Congress To End a War?

March will mark 20 years since the United States launched its invasion of Iraq, and with it a wave of catastrophic choices that...