Tesla delivered record number of cars in 2022, but fails to meet growth targets

Tesla delivered about 1.31 million vehicles last year, an increase of 40 percent compared to 2021. The company therefore missed its goal of growing 50 percent in 2022. Tesla also produced 1.37 million cars in 2022.

Tesla delivered 1,313,851 cars last year, the company announced on Monday. The majority of these are Model 3 and Y vehicles, of which the company delivered nearly 1.25 million units. 66,705 models of the Model S and X were delivered in 2022. Tesla previously indicated that it hoped to ship 50 percent more cars in 2022 than in 2021, when the company shipped 936,172 vehicles. To meet that goal, Tesla had to deliver 1.4 million cars to customers last year.

Last quarter, Tesla reportedly delivered 405,278 vehicles, including 17,147 Model S and X models and 388,131 Model 3 and Y models. Despite missing its growth targets, that is a new record for the automaker.

Production was also delayed in 2022, including lockdowns at the Tesla factory in Shanghai and supply chain issues. Analysts also speak of falling demand for cars in China. The company would produce fewer cars at its Chinese plant in January, writes news agency Reuters based on internal documents. Production at the company did increase in 2022, to 1,369,611 vehicles. This means that the company produced 47 percent more cars than in 2021. Last quarter, the company produced 439,701 cars.

Tesla writes that it is currently moving to a more even distribution of production in different regions. According to the manufacturer, the number of cars produced that have not yet been delivered increased as a result in the fourth quarter of 2022. The company previously indicated that it was experiencing logistical problems. In October, the automaker stated that it is “increasingly difficult” to secure transport capacity at a reasonable price, especially around the “peak weeks” at the end of a quarter.

Tesla will publish its final financials for the last quarter of 2022 at the end of this month, in addition to an annual report for 2022. On March 1, the company will hold its annual Investor’s Day presentation to shareholders, so the company also reports on Tuesday.