Tesla delivered a record number of cars last year, while sales continued to grow at percentages any other major automaker would only dream of. But Tesla still managed to disappoint Wall Street throughout 2022 – and the last quarter was no different.
The electric automaker delivered 1.3 million vehicles in 2022, up 40% from 2021. It produced nearly 1.4 million vehicles, up 47% from the previous year.
However, the fourth quarter left something to be desired: Tesla delivered just 405,278 vehicles, well below the average estimate of 431,000, according to analysts polled by Refinitiv, as recession fears and higher interest rates led to a slowdown. on demand.
While the 40% growth is nothing to sneeze at, Tesla’s pace of growth is slowing. Deliveries nearly doubled in 2021 and more than quadrupled in 2020.
Tesla shares are down 65% in 2022 on weakening demand. Competition in electric vehicles from established automakers has increased in the past year. The company missed its growth targets over the year and reduced production in China.
Evidence of waning interest from car buyers in Teslas became apparent last month after the company announced a rare sale in a bid to clear inventory.
Tesla has offered two discounts for buyers who receive a vehicle before the end of the year, initially offering a $3,750 discount and doubling the discount to $7,500 with two weeks left in 2022.
Investors were rattled by the discounts, sending shares plunging 37% in December alone.
Tesla thanked customers and employees for helping the company “achieve a great 2022 in light of the significant Covid-related and supply chain challenges throughout the year,” according to a statement released on Monday.
The company also said it was proud of its growth and progress.
“We continue the transition to a mix more uniform regional vehicle manufacturing, which again led to a further increase in cars in transit at the end of the quarter,” the statement reads.
Tesla said it has delivered 1.25 million of its cheaper Model 3 and Model Y electric cars and nearly 67,000 of its high-end Model X and Model X lines.
Source: CNN Brasil
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