Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

Record output for Tesla but deliveries still below estimates

Record output for Tesla but deliveries still below estimates

The electric carmaker delivered 55,760 fewer vehicles than it produced in 2022.
Tesla has continued to increase electric car production but supply chain problems have meant it is delivering fewer cars than it produces - while also falling below its delivery estimates.

Last year was a record year for Tesla production as 1,369,611 cars were made, an increase of 47% on 2021 output.

Nearly half a million (439,701) of them were made in the final three months of the year.

But, despite having set a record for output, there continued to be issues with getting cars to customers.

The electric carmaker delivered 55,760 fewer vehicles than it produced.

Delivery figures were also less than expected in the final quarter of the year. Wall Street analysts had estimated 431,117 Teslas would be delivered but only 405,278 were across the three months from October to December.

The lack of deliveries can be chalked up to logistics problems and slowing demand, fuelled by rising interest rates and recession fears.

Tesla pointed to 1COVID1-19 and general supply chain challenges which persisted throughout the year.

The company moved towards "a more even regional mix of vehicle builds" which led to an increase in cars in transit at the end of the quarter, it said in a trading update.

Global demand for new cars has been slowing as central banks across the West raise interest rates to combat inflation and the world economy slows.

Tesla's shares have recently taken a beating and its chief executive Elon Musk sold approximately $7.6bn (£6.38bn) of his Tesla shares to fund his takeover of Twitter.

The world's former richest man bought the social media platform at the end of October for $44bn (£36.4bn) and has spent much of his time since working on the business since then.

Full year Tesla results will be published on 25 January, which will give a clearer picture of the company's financial performance.
Newsletter

Related Articles

Budapest Post
Close
0:00
0:00
Turkish photographer Ugur Gallenkus portrays two different worlds within a single image. Brilliant work
Tennessee Bill Would Imprison People for 3 Years If They 'Lie' About Rape to Get an Abortion.
Charlie Munger, calls for a ban on cryptocurrencies in the US, following China's lead
Shell reports highest profits in 115 years
EU found a way to use frozen Russian funds
First generation unopened iPhone set to fetch more than $50,000 at auction.
WARNING GRAPHIC CONTENT - US Memphis Police murdering innocent Tyre Nichols
Almost 30% of professionals say they've tried ChatGPT at work
Interpol seeks woman who ran elaborate exam cheating scam in Singapore
What is ChatGPT?
Bill Gates is ‘very optimistic’ about the future: ‘Better to be born 20 years from now...than any time in the past’
China is opening up for foreign investors.
Tesla reported record profits and record revenues for 2022
Germany confirms it will provide Ukraine with Leopard 2 tanks
Prince Andrew and Virginia Giuffre Photo Is Fake: Ghislaine Maxwell
Opinion | Israel’s Supreme Court Claims a Veto on Democracy
Moonwalker Buzz Aldrin Gets Married On His 93rd Birthday
Who’s Threatening Israeli Democracy?
Federal Reserve Probes Goldman’s Consumer Business
China's first population drop in six decades
Microsoft is finalising plans to become the latest technology giant to reduce its workforce during a global economic slowdown
Hungary ready to sue EU over cuts to Erasmus funding
EU against democracy: Hungary's mail-in poll on Russia sanctions dismissed by Brussels
2023 - The Year of the Rabbit
Israelis rally in three cities against Netanyahu legal reforms
Tesla slashes prices globally by as much as 20 percent
Japan prosecutors indict man for ex-PM Shinzo Abe murder
1.4 Million Copies Of Prince Harry's Memoir 'Spare' Sold On 1st Day In UK
After Failing To Pay Office Rent, Twitter May Sell User Names
Lisa Marie Presley, singer and daughter of Elvis, dies aged 54
FIFA president questioned by prosecutors
Britain's Sunak breaks silence and admits using private healthcare
Dirty bomb fears as URANIUM is found in cargo at Heathrow
Hype and backlash as Harry's memoir goes on sale. Unnamed royal source says prince 'kidnapped by cult of psychotherapy and Meghan'
Saudi Arabia set to overtake India as fastest-growing major economy this year 
International medical experts speak out against COVID-19 restrictions on China
Google and Facebook’s dominance in digital ads challenged by rapid ascent of Amazon and TikTok
FTX fraud investigators are digging deeper into Sam Bankman-Fried's inner circle – and reportedly have ex-engineer Nishad Singh in their sights
TikTok CEO Plans to Meet European Union Regulators
France has banned the online sale of paracetamol until February, citing ongoing supply issues
Japan reportedly to give families 1 million yen per child to move out of Tokyo
Saudi Arabia’s female ambassadors: Who are the five women representing the Kingdom?
Hong Kong property brokerages slash payrolls in choppy market
U.S. Moves to Seize Robinhood Shares, Silvergate Accounts Tied to FTX
Effect of EU sanctions on Moscow is ‘less than zero’ – Belgian MEP
Coinbase to Pay $100 Million in Settlement With New York Regulator
FTX assets worth $3.5bn held by Bahamas securities regulator
A Republican congressman-elect is under investigation in New York after he admitted he lied about his education and work experience.
Brazilian football legend Pele, arguably the greatest player ever, has died at the age of 82.
Hong Kong to scrap almost all its Covid rules
×