Tesla misses 2022 Q4 target, share price drops further

The newly completed Tesla Model Y electric car stands at the new Tesla Gigafactory electric car manufacturing plant near Grünheide, Germany, March 21, 2022.
Expanding / Tesla will open a factory outside Berlin, Germany in 2022.

Sean Gallup/Getty Images

On Monday night, Tesla revealed its production and shipment numbers for the fourth quarter of 2022 and for the full year. It was another record quarter for the American automaker, which built 439,701 electric vehicles and delivered 405,278.

Most of these were split between Model 3 and Model Y. Of these, 419,088 were manufactured and 388,131 found customers. Of those, 20,613 Model S and Model X left the production line, of which only 17,147 found homes.

This will bring automakers to build a total of 1,369,611 EVs and deliver 1,313,851 EVs in 2022. Again, Model 3 and Y dominate. Tesla built 1,298,434 of these EVs and in 2022 he delivered 1,247,146. Model S and X last year he built 71,177 and delivered 66,705.

According to Tesla, this translates into a 47% increase in production year-over-year and a 40% increase in shipments over the same period.

Unfortunately, that’s not enough for Wall Street. Tesla had told investors to expect a 50% year-over-year growth in car deliveries. As a result, the company’s stock, which has lost more than 70% of his value in 2022, has fallen further at the start of trading, already dropping him more than $8. Percentage of time pressed.

The failure to hit delivery targets came at a time when most other EVs were sold out and often subject to dealer markups, even after Tesla heavily slashed prices on its own EVs.

Tesla will announce its financial results for the year at the end of January.

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