The electric car manufacturer Tesla missed analysts’ expectations in the fourth quarter despite a delivery record. According to its own statements on Monday, the US company handed over 405,278 cars to its customers in the reporting period. However, experts had expected an average of 431,117 vehicles.
Tesla was slowed down by ongoing logistics problems and falling demand for vehicles in the wake of rising interest rates and fears of a recession. In the fourth quarter of 2021, Tesla had delivered 308,600 cars. Tesla put the total production in the reporting period at 439,701 vehicles.
For the full year, shared by tech billionaire Elon Musk (51) in Austin (US state of Texas) to have delivered around 1.3 million electric vehicles. This corresponds to an increase of 40 percent compared to the previous year. Tesla plans to announce full figures for the fourth quarter and 2022 on January 25, 2023.
Wedbush Securities analyst Daniel Ives said the numbers weren’t as dire as Wall Street’s direst predictions. In addition, a lot of bad news has already been priced into the share price. “But missing is missing.” In the United States the stock exchanges remained closed on Monday due to the delayed New Year’s holiday. Tesla shares lost 65 percent last year, the biggest loss since going public in 2010. The titles were among the most lucrative stocks for short sellers.
Experts see the e-car pioneer confronted with several problems. This includes the weakness of the world’s largest car market in China, Competition from traditional corporations like ford and General Motors as well as from start-ups such as Rivian Automotive and the Lucid Group.
Company boss Musk recently had to take a few setbacks. So he did in just over a year an unprecedented loss of wealth suffered. Lay his estimated fortune aloud “Bloomberg”
in November 2021 it was still around 340 billion US dollars, but it has now melted down to around 137 billion US dollars.