In a recent blog post, the automaker announced that it produced 439,000 vehicles and delivered over 405,000 in the fourth quarter of 2022. This brings the total number of deliveries for the year to 1.37 million, representing a 40% increase in deliveries and 47% growth in production compared to the previous year. This is a significant achievement for the company, as it marks the first time it has exceeded the 1 million delivery mark.
Q4 2022
| Production | Deliveries | Subject to operating lease accounting | |
| Model S/X | 20,613 | 17,147 | 9% |
| Model 3/Y | 419,088 | 388,131 | 4% |
| Total | 439,701 | 405,278 | 4% |
2022
| Production | Deliveries | ||
| Model S/X | 71,177 | 66,705 | |
| Model 3/Y | 1,298,434 | 1,247,146 | |
| Total | 1,369,611 | 1,313,851 |
The automaker also announced that it will release its full financial results for the fourth quarter and full year 2022 on Wednesday, January 25, 2023, after the market closes. Despite strong year-over-year growth, the company narrowly missed Wall Street estimates of 420,000 to 425,000 vehicles. It will be interesting to see how the stock reacts to this news when the market reopens on Tuesday, January 4th after the holiday break.
It’s worth noting that the company had to go to great lengths to achieve these numbers, including offering $7,500 rebates to buyers who took delivery before the end of the year in response to a new EV tax credit that went into effect at the beginning of the year. Despite these efforts, the stock has performed poorly in the past year, with a 69% decline that can partly be attributed to macroeconomic conditions and criticism of CEO Elon Musk for being distracted by the Twitter acquisition.
