CARS

Tesla Q4: Record deliveries but still misses the target

Tesla sold 405,278 cars worldwide in the fourth quarter, setting a record despite rising interest rates, inflation and contracting production in China.

The results posted on Monday were disappointing. To clear the inventory, Tesla dangled her $7,500 discount to US consumers who received her late-December delivery. In the European market, the automaker offered customers who delivered a new Tesla by the end of the year a Supercharger credit equivalent to 10,000 km of driving.

Tesla delivered more than 1.31 million cars in one year, but fell short of the company’s target of 50% year-over-year growth. In a statement, Tesla said it expects vehicle sales to grow 40% year-on-year in 2022 and production to reach 1.37 million units, up 47%. The company he produced 439,701 vehicles.

More than 34,000 vehicles remained in transit at the end of the quarter. Analysts expected the company to ship 420,760 of his vehicles. This is an average of estimates compiled by Bloomberg.

“Tesla sells cars and the auto industry is slowing down,” Loop Ventures managing partner Gene Munster said by phone. “They are still struggling with logistics and the gap between production and delivery has widened since last quarter.”

Tesla said:

Tesla’s quarterly shipments are commonly seen as a barometer of EV demand, as the Austin, Texas-based company leads the way in charging battery-powered vehicles.

The company has a long tradition of doing its best to get cars into the hands of paying customers at the end of the quarter, with top executives such as design chief Franz von Holzhausen helping the Southern California distribution center on New Year’s Eve. I’m here.

Tesla doesn’t break down sales by region, but the US and China are the biggest markets, with 95% of 2022 sales coming from Model 3 sedans and Y crossovers.

Tesla builds the Models S, X, 3 and Y at its Fremont, California factory. Its Shanghai factory produces the Model 3 and Y. Tesla recently started supplying the Model Y from its newest factories in Austin and Berlin.

Tesla delivered its first Class 8 “semi” truck to Pepsi in December, but its quarterly press release did not include semi truck figures.

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