Published , by TJ Denzer
Published , by TJ Denzer
Popular electric vehicle manufacturer Tesla put out its Q4 2022 production and delivery numbers ahead of the quarter’s upcoming financial results and conference call. It was a decent finish for Tesla as the company shared that it experienced a 40 percent boost in deliveries year-over-year (YoY). Unfortunately, as impressive as this was, Tesla wasn’t able to overcome its own expectations and that of analysts, citing continued issues with raw material shortages, COVID complications, and supply line challenges.
Tesla’s Q4 2022 and FY2022 production and delivery reporting was posted on its investor relations website on January 2, 2023. It was here that the company shared that it was able to deliver 1.31 million vehicles by fiscal 2022’s end. This was a 40 percent increase from FY2021. However, it wasn’t enough to beat analyst expectations. Wall Street was expecting to see Tesla ship 1,325,161 by year’s end, as shared by investment advisor Gary Black. In order to meet that goal, Tesla would have had to ship 417,957 vehicles in Q4 2022. Unfortunately, the company only delivered 405,278 vehicles.
While the miss against analyst expectations is a shame, Tesla arguably only missed by a single digit percent on both the quarter and the year. The company still saw plenty of growth as the Model S/X and Model 3/Y vehicles continued to be popular products throughout the year. Tesla also put the writing on the wall in several instances throughout its fiscal 2022, pointing to issues with COVID, raw materials, and supply lines causing disruptions in its business throughout the year. Tesla’s Shanghai Gigafactory saw stalls in production due to COVID and the company has mobilized to address the issue of lithium supplies and battery production with new facilities and shifted production at existing facilities.
Tesla is expected to share its Q4 2022 financial results and accompanying conference call on January 25, 2023. As we await said results, stay tuned for further reporting in the electric vehicle space.