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Tesla production and delivery increased by more than 40% in 2022

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Tesla produced and delivered more than 1.3 million electric vehicles in 2022, a company record. File photo courtesy of Tesla

Tesla produced and delivered more than 1.3 million electric vehicles in 2022, a company record. File photo courtesy of Tesla

Jan. 2 (UPI) — Tesla produced and delivered more than 1.3 million electric vehicles in 2022, a company record.

In the fourth quarter, Tesla produced 439,701 vehicles and delivered 405,278, according to its fourth quarter report. Its total for the year was about 1.37 million produced and 1.31 million delivered.

Vehicle deliveries increased year-over-year by 40% in 2022. In 2021, 936,172 vehicles were delivered. Production increased by about 47% after producing 930,422 in 2021.

“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 its report.

The company said it will release its final financial report for 2022 after the close of market on Jan. 25.

While Tesla’s production and deliveries had a boon in 2022, its stock has not mirrored that success. On Jan. 3, 2022, shares in Tesla traded at $399.93. Tesla shares closed at $123.18 on Friday.

Tesla stock steadily declined throughout the year, but began to plummet more quickly after CEO Elon Musk completed his purchase of Twitter. Since then, his loose and often brash way of operating his new company has coincided with an exodus by advertisers and shareholders across his businesses.

Musk has also purged himself of more than 94 million shares of Tesla.

Monday’s report on deliveries could be encouraging, but The New York Times reports its figures fell short of estimates.

“Fourth quarter deliveries were below the forecasts of analysts, who had already lowered their expectations, and less than Tesla executives had suggested just a few months ago,” Jack Ewing wrote.

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