CARS

Tesla expected to post quarterly delivery record

In April, CEO Elon Musk said Tesla will produce more than 1.5 million cars in 2022. By his first three quarters, the company had produced 929,910 cars, so he would have needed to produce over 570,000 cars in the final quarter to reach that goal.

In the third quarter, production exceeded deliveries by more than 22,000 vehicles, but with some cars still in transit at the start of the year, the difference could continue into the previous quarter.

In a recent note, Robert W. Baird analyst Ben Kallo lowered its estimates for shipments in the fourth quarter and 2023 “given the reported slowdown in production and the weakening macro environment.” I was. Kallo expects the automaker to report 378,262 deliveries in the quarter.

“I worry about the general economic environment,” Kallo said in an interview with Bloomberg Television.

Tesla’s Model 3 sedan and Model Y SUV make up the majority of sales.

Tesla will be selling cars until midnight on New Year’s Eve and will report global shipments and production totals within three days of the end of the quarter.

The company has a long history of going all out at the end of the quarter, with all Tesla employees working together to help get cars to customers.

On the company’s last earnings call, Chief Financial Officer Zachary Kirkhorn said one-third of the quarter’s shipments occurred in the last two weeks of the third quarter.

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