Tesla’s fourth-quarter new car deliveries fell short of Wall Street expectations, fueling fears that rising interest rates and a slowing economy could weigh on demand for models from U.S. electric car makers in 2023.
Despite record quarterly shipments over the last three months, the disappointment has come. TeslaNew factories in Berlin and Texas continued to ramp up production. The company said Monday that it had delivered 405,278 vehicles in the three months through the end of December. This is an 11% increase from the record he set last quarter. Most analysts expected delivery numbers to reach 420,000 to 430,000 he.
Year-end sales surge means Tesla delivered more than 1.3 million new cars to customers in 2022, a 40% increase from the previous year.CEO Elon Musk predicted earlier this year that the company would meet its long-term goal of growing deliveries by 50% annually, but he’s grown more. careful As the years went by, the company suffered Covid-related production shutdowns in China, supply chain challenges, and early signs of weakening demand.
The latest figures show that production outstripped shipments by 34,423, marking the third straight quarter of overproduction for Tesla. In a statement, the company suggests that logistics are at least part of the problem.”
Tesla struggled with production and logistics challenges throughout 2022. This included the long shutdown of the company’s largest production plant in Shanghai at the beginning of the year.
But Wall Street’s focus shifted from supply to demand later this year as the waiting lists for the most popular vehicles were shortened. In December, Tesla announced in the US that he will give a $7,500 incentive to anyone who buys a Model S or Model Y by the end of 2022. tax credit For the purchase of electric vehicles, which will come into force in 2023.
Mr. Musk warned last December that “storms await” as rising interest rates weighed on demand, and was critical of excessive monetary tightening to keep inflation under control.
Tesla shares fell 54% in the final quarter of 2022. This worries investors that Musk’s Twitter acquisition will be a distraction and could lead to further sales of Tesla shares, and that the electric-car maker is on the cusp of a period of high growth and higher profit margins. It’s for end.
