Tesla falls in need of 50% development objective in 2022
The car manufacturing giant Tesla has missed its target of 50 percent growth in production and deliveries for 2022, as its stock plummeted around 65 percent amid Elon Musk‘s $44 billion Twitter takeover last year.
In 2022, vehicle deliveries grew 40 percent (year-on-year) to 1.31 million while production grew 47 percent (on-year) to 1.37 million. Tesla’s Q4 deliveries, however, are up from 343,830 vehicles sold in the third quarter (Q3).
The automaker needed to sell 495,760 vehicles in its fourth quarter (Q4) to have achieved the 50 percent growth guidance.
In the fourth quarter, Tesla produced over 439,000 vehicles and delivered over 405,000 vehicles.
“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 company said in a statement late on Monday.
Investors fear that the China Covid situation and supply chain-related challenges will further impact Tesla sales. They are also concerned about Musk’s distraction by his Twitter overhaul.
Meanwhile, Tesla also announced a price drop in several of its models, offering a $7,500 discount for its Model 3 and Model Y vehicles, in a bid to sell more vehicles.
[With Inputs from IANS]
PGurus is now on Telegram. Click here to join our channel and stay updated with all the latest news and views
For all the latest updates, download PGurus App.
It matters only for those in business of stock market….for others it is regular life. He would get back his monies sooner or later. Why worry ? Life is not like Hens which lay eggs daily !!
Another lesson for stock dealers – never to invest in such rotten companies – which survive in making people fight each other & exchange hatred or bitter words – a platform caller Twitter & its look likes….