With the year 2022 coming to a close, the companies have started to evaluate their performances for the entire year. They are readying the final figures they have achieved in the year 2022.
Tesla has also done the same but it was too quick to share the statistics. Despite the difficult year Tesla has faced, it was excited to share its achievement, which is why its delivery report has been shared already.
Delivery and Production Statistics Shared by Tesla
The executives at Tesla were quick to share the delivery and production statistics for the fourth quarter as well as the entire year 2022.
Here is a look at the figures that have been generated by Tesla in the respective periods.
In the entire year of 2022, Tesla has revealed that they have produced a total of 1.37 vehicles. As for the deliveries, they have executed a total of 1.31 deliveries in the year 2022.
When it comes to the fourth quarter, Tesla has confirmed that it produced a total of 439,701 vehicles. In the same quarter, they delivered a total of 405,278 vehicles.
For automobile companies, the closest estimation to the sales in a particular period are the deliveries carried out.
With the number of deliveries carried out by Tesla, it can be established how much the company has generated.
Although the company has done well for the entire well, the fourth quarter was not the highlight of the company’s report.
The executives confirmed that despite delivering a high number of vehicles in the fourth quarter, they were not able to meet the expectations set by the analysts.
As per the analysts, the delivery estimation that had been set by the FactSet analysts for the fourth quarter of 2022 was 427,000.
This is the estimation that came from the FactSet analysts on December 31, 2022. However, prior to the initiation of the fourth quarter, they had expected Tesla to deliver 409,000 to 433,000 vehicles.
If FactSet were to stick with the initial estimations, then the situation could have been somewhat favorable for Tesla.
Martin Viecha, the Vice President of Tesla investor relations, was the one communicating the final results with the shareholders.
Apart from FactSet, other analysts also contributed to the estimations with their expected figures.
A group of analysts reportedly predicted that the company would be able to deliver up to 417,957 vehicles per quarter on average. Their estimation brought the final expectation of deliveries to 1.33 for 2022.
The 1.33 million delivery target for the entire year was also not met by Tesla but the company has recorded a year-over-year (YOY) increase.
Why the Expectations were Higher
Despite the semiconductor and other supply disruption issues at the beginning of 2022, Tesla’s business and demand had been expanding.
It was able to increase its control and demand in the Chinese EV market as well within the United States. This is the reason why the company launched two new factories.
One new factory was opened in Brandenburg, Germany and the other company was opened in Austin, Texas.
In addition to the above, Tesla had also increased its production at the Shanghai, China, and Fremont, California production plants.
Despite the initiation of so many production plants, Tesla failed to meet the estimations set by the analysts for the entire year.
The company does not reveal production/delivery figures by region so it couldn’t be established which region performed the best and the worst.
Growth Rate Compared to 2021 and Future Expectations
The executives at Tesla revealed that despite the below-expectation figures, their deliveries were 40% higher than the previous year.
However, they want to achieve more and want to bring their YOY growth rate up to 50% on average.
After sharing the delivery results, Tesla’s shares jumped by 1.12% in the latest trading session. In the past 6-months, the share prices for Tesla have dipped over 45%.