Tesla stock deliveries7/4/2023 ![]() During a question-and-answer session with analysts, Musk said he expected 12 months of "stormy weather" in the economy. On an earnings call, CEO Elon Musk emphasized an "uncertain" macroeconomic environment that could impact people's car-shopping plans. Revenue from automotive regulatory credits during the first three months of 2023 amounted to $521 million, down from $679 million in the first quarter of last year. The company specified in a shareholder deck that "underutilization of new factories" stressed margins, along with higher raw material, commodity, logistics and warranty costs, and lower revenue from environmental credits, all contributing to the drop in earnings from last year.Īutomotive revenue, Tesla's core segment, reached $19.96 billion in the quarter, up 18% from last year. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower CNN Sans ™ & © 2016 Cable News Network.Best Debt Consolidation Loans for Bad Credit Market holidays and trading hours provided by Copp Clark Limited. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC and/or its affiliates. Standard & Poor’s and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc. US market indices are shown in real time, except for the S&P 500 which is refreshed every two minutes. Your CNN account Log in to your CNN account Tesla said it delivered 1.25 million of its less-expensive Model 3 and Model Y electric cars, and nearly 67,000 of its higher-end Model X and Model X lines. “We continued to transition towards a more even regional mix of vehicle builds which again led to a further increase in cars in transit at the end of the quarter,” the statement read. The company also said it was proud of its growth and progress. Tesla thanked customers and employees for helping the company “achieve a great 2022 in light of significant Covid and supply chain related challenges throughout the year,” according to a statement released on Monday. ![]() Investors were rattled by the rebates, sending the stock plunging 37% in December alone. 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. The company missed its growth targets throughout the year and it scaled back production in China.Įvidence 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. Competition in electric vehicles from established automakers surged last year. (TSLA) stock plunged 65% in 2022 as demand weakened. Deliveries nearly doubled in 2021 and more than quadrupled in 2020. 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.Īlthough 40% growth is nothing to sneeze at, Tesla’s pace of growth is slowing. ![]() It produced nearly 1.4 million vehicles, up 47% from the prior year. The electric automaker delivered 1.3 million vehicles in 2022, up 40% from 2021. But Tesla still managed to disappoint Wall Street throughout 2022 – and the last quarter was no different. Tesla delivered a record number of cars last year, as sales continued to grow by percentages any other major automaker would dream about.
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