TARLAKENYO (2023, Jan. 3) — Tesla claims it delivered 1.3 million vehicles last year, 40% higher than in 2021.
It follows the company’s delivery of over 405,000 automobiles in the final three months of 2022.
However, this amount fell short of Wall Street expectations of approximately 430,000 deliveries for the period.
The auto industry is anticipated to see less demand this year as potential buyers fret about increasing interest rates and a possible recession.
In a message to investors, Tesla claimed it had to cope with “major Covid and supply chain-related problems throughout the year.”
Meanwhile, South Korean officials said on Tuesday that they would punish Tesla with $2.2 million (£1.8 million) for neglecting to inform buyers about the lower driving range of its electric vehicles in cold weather.
The Korea Fair Trade Commission stated the firm had misrepresented the “driving ranges of its cars on a single charge, their fuel cost-effectiveness compared to gasoline vehicles as well as the performance of its Superchargers.”
Deliveries in the fourth quarter of the year were almost 34,000 fewer than Tesla produced, highlighting the logistics challenges faced by the world’s most expensive auto company.
The shortage is uncommon for Tesla, which had historically delivered roughly the same number of vehicles as it produced.
Elon Musk, the company’s CEO, stated in October that he was trying to remedy the issue.
Tesla, like other automakers, will confront the problem of reducing vehicle demand in the next year as buyers grapple with increased financing rates and fear an economic slowdown.
Tesla also faces competition from established automakers like Ford and General Motors, as well as younger market entrants such as Rivian and Lucid in the United States and BYD and Nio in China.
On January 25, 2022, the corporation will release its financial results for the fourth quarter and the whole year.
In a second announcement, Tesla stated that its Investor Day would be held on March 1 and live-streamed from its Gigafactory in Texas.
“Our investors will get the opportunity to witness our most sophisticated manufacturing line as well as discuss long-term expansion plans, generation 3 platform, capital allocation, and other topics with our leadership team,” the business added.
Tesla’s stock dropped 65% in 2022, its worst year since coming public in 2010, as investors fretted about manufacturing hiccups, a downturn in demand, and Mr. Musk’s emphasis on Twitter.
The multi-billionaire paid $44 billion (£36.4 billion) for the social media network at the end of October and has spent most of his time attempting to bring the firm around since then.
