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Tesla to sell 1.31 million cars in 2022, up 40 percent in one year



Musk sold billions of dollars worth of Tesla stock last year to finance a leveraged buyout of social media company Twitter.

Tesla just released its Q4 2022 vehicle production and delivery report. The new numbers represent a record for the Elon Musk-led automaker and a 40 percent increase in shipments compared to the previous year.

Here are the key numbers:

  • Total deliveries in the fourth quarter of 2022: 405,278 units.
  • Total production in the fourth quarter of 2022: 439,701 units.
  • Total annual shipment in 2022: 1.31 million units.
  • Total annual production in 2022: 1.37 million units.

However, the fourth quarter numbers fell short of analysts’ expectations. According to the consensus of analyst estimates compiled by FactSet, on December 31, 2022, Wall Street expected Tesla to report around 427,000 deliveries for the last quarter of the year. Estimates updated in December and included in the FactSet consensus ranged from 409,000 to 433,000.

These newer estimates were in line with a company-compiled forecast presented by Tesla’s vice president of investor relations, Martin Viecha. The consensus estimate, published by EV researcher @TroyTeslike, says 24 sell-side analysts on average expected about 417,957 Tesla shipments for the quarter (and about 1.33 million for the full year).

Tesla started production at two new factories this year – in Austin, Texas and Brandenburg, Germany – and ramped up production in Fremont, California and Shanghai, but does not disclose production and delivery numbers by region.

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

In its third-quarter shareholder presentation, Tesla wrote: “Over several years, we expect an average annual growth of 50 percent in vehicle deliveries. The rate of growth depends on the capacity of our equipment, factory uptime, operational efficiency, and the capacity and stability of the supply chain.”

The period ending December 31, 2022 was marked by challenges for Tesla, including the outbreak of the Covid epidemic 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 U.S., China and elsewhere to boost demand, even though that may have pressured margins.

In a recent email sent 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 email, Musk also encouraged employees not to be distracted by what he called the stock market frenzy. (Tesla shares have fallen more than 45 percent in the past six months).

In December, several analysts expressed concern about weakening demand for Tesla’s electric vehicles, which are relatively expensive compared to a growing number of hybrid and all-electric products from competitors. Along with competitors ranging from industry veterans Ford and GM to upstart Rivian, Tesla will benefit this year from Biden’s anti-inflation law, which includes incentives for the domestic production and purchase of all-electric cars.

Retail shareholders and analysts alike attributed the 2022 drop in Tesla’s stock price in part to the so-called “Twitter overshoot.”

Musk sold billions of dollars worth of Tesla shares last year, to finance its leveraged buyout of social media company Twitter. That deal closed at the end of October. Musk appointed himself CEO of Twitter and caused controversy by making sweeping changes to the company and its social media platform. Tesla shares started to rise again in the last days of December 2022, on hopes of record deliveries in the fourth quarter and for the full year.

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Mr.Mario
Mr.Mario
I am a tech enthusiast, cinema lover, and news follower. and i loved to be stay updated with the latest tech trends and developments. With a passion for cyber security, I continuously seeks new knowledge and enjoys learning new things.

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