The electric automaker delivered 1.3 million vehicles in 2022, up 40% from 2021. It produced nearly 1.4 million vehicles, up 47% from the prior year. Yet the fourth quarter underwhelmed: Tesla delivered only 405,278 vehicles, well below the median estimate of 431,000 according to analysts polled by Refinitiv, as recession fears and higher interest rates led to a slowdown in demand. Although 40% growth is nothing to sneeze at, Tesla’s pace of growth is slowing.
Evidence of car buyers’ sinking interest in Teslas became apparent last month after the company announced a rare sale in a bid to clear out inventory. Tesla offered two rebates for buyers taking delivery of a vehicle before the end of the year, initially offering a $3,750 discount then doubling the rebate to $7,500 with two weeks left in 2022. Investors were rattled by the rebates, sending the stock plunging 37% in December alone.
They were mostly fleet sales. Nobody really wants to drive an EV.
If Tesla stock tanks on a 3% miss on “expectations” then all the “investors” who sale deserve the loss. To be up 40% in deliveries over last year in this market is great. Think about what you’re saying. I only lost 97lbs and my goal was 100 this diet was a complete failure!!!
It’s almost as if there is a powerful group of people who are going after Teslas Stock because of Elon purchasing Twitter and exposing how they manipulate the public and elections.
Everything was disappointed by wall street. Worst year since 2008. Thanks Biden.
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Wall Street seems to be full of pretentious children who delight in showing how disappointed they are. When was the last time the majority of them were pleased with holiday earnings? Just like spoiled brats unsatisfied with their toys.
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Don‘t worry, Musk‘s insane libertarian shit-heelery is leaking into the mainstream. That‘ll damp people‘s enthusiasms for new orders, especially as there are excellent alternate offerings now available.
I’d rather walk than own a Tesla. BoycottTesla
Mr Musk, tear down that Wall Street
Interesting to know how much deliveries needs Wall Street to consider Tesla is doing ok, moreover, does it makes a big difference between 405 (real) and 420 (expected) to Tesla financials ?
Tesla has to sell 5x of last year’s units at least to justify egregiously high P/E. Stock has to come down much more, given EVs from major auto makers will continue to flood the markets.
Translation how can we make this good news sound bad because Elon is on our enemies list.
GM should have been allowed to fail
Well, there’s always GM and Ford. How’s the MockE selling?
Loser elonmusk
I am not so sure Wall Street gets it. Sales in 2023 will be fine.
Tesla will be the dominant force in the decades to come.
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