Tesla Company Says It Sold 1.3 Million Vehicles Last Year — Texas Today

Tesla says it sold a record 1.3 million electric cars last year, 40% more than in 2021.

It happened after the company had delivered more than 405,000 cars in the last three months of 2022.

Wall Street had predicted that there would be about 430,000 deliveries during this time.

People will probably buy fewer cars this year because they are worried about rising interest rates and a possible recession.

In a letter to investors, Tesla said that it had to deal with “significant challenges related to Covid and the supply chain all year.”

On Tuesday, South Korean officials said they would fine Tesla $2.2 million (£1.8 million) for not telling customers that its electric cars have a shorter range in cold weather.

The Korea Fair Trade Commission said the company lied about how far its cars could go on a single charge, how much cheaper they were to run than gasoline cars, and how well their Superchargers worked.

When the BBC asked Tesla for his opinion, he didn’t respond immediately.

During the fourth quarter of 2016, Tesla delivered about 34,000 fewer cars than it made. This shows that the world’s most valuable car company has problems with logistics.

Tesla has usually been able to deliver almost as many cars as it makes, so this shortfall is unusual.

CEO Elon Musk said in October that he was working on a solution.

In the coming year, Tesla will have the same problem as other car companies: if customers have to pay more to borrow money and are worried about the economy slowing down, they may buy fewer cars.

Ford and General Motors have been making cars for a long time and are also Tesla’s competitors. Rivian and Lucid in the US and BYD and Nio in China, which have been making cars for less time, are also Tesla’s rivals.

The company will discuss its finances for the fourth quarter of 2022 and the whole year on January 25.

In a separate statement, Tesla said that its Investor Day would be on March 1 and live-streamed from its Gigafactory in Texas.

The worst year for Tesla since it went public in 2010 was 2022 when its shares dropped by 65%. Investors were worried about production problems, a slowing in demand, and Elon Musk’s focus on Twitter.

In October, the multibillionaire bought the social media platform for $44 billion (£36.4 billion). Since then, he has spent a lot of time trying to turn the business around…Read more

Source: Texas Today