Tesla reported 405,278 vehicles delivered worldwide in the fourth quarter of 2022, surpassing the 2021 mark by 47%. While this was lower than expected, the full year delivery numbers of 1.31 million were still impressive, indicating a growth of over 30% from 2021. Unfortunately, Tesla’s China production had difficulty due to shifting policy, leading to a domestic EV demand slowdown.
Tesla analyst Dan Ives of Wedbush Securities called the performance “better than worst-case fears” in light of the “jittery macro” environment. He also suggested that Elon Musk name a new CEO of Twitter by the end of January and set more conservative annual growth targets of 35% rather than the 50% goal.
Tesla’s stock price dropped significantly in 2022, ending at $123.18 on Dec. 30. The company will release financial results on January 25 and it is unclear how the outlook for the company heading into 2023 will look.
Overall, Tesla has had a difficult year, but the record number of deliveries for the fourth quarter of 2022 is an encouraging sign. As the global electric vehicle market continues to expand, Tesla will need to remain competitive and continue to innovate in order to remain the leader in the industry.