The company missed its goal of achieving 50 percent growth over the course of the year. The EV company needed to deliver over one million deliveries to meet its target.
The company said it delivered over 400,000 vehicles in the fourth quarter of the year. The analysts had predicted that 415,000 vehicles would be delivered. The company delivered more than one million Model 3 and Y vehicles.
Analysts were hoping for a robust 1.8 million vehicles delivered for the year, but in order to meet its goal of 50 percent growth, it needed to deliver just 1.4 million in the next four years. It was another record quarter of deliveries for the EV maker, which has been dealing with a number of challenges this year.
The company said in a statement that it continued to transition towards a more even regional mix of vehicle builds which again led to a further increase in cars in transit. Thanks to all of our customers, employees, suppliers, shareholders and supporters, we were able to achieve a great 2022.
It was a year of unique struggles for the company, which included an aging lineup and increased competition. Over the course of the year, the stock price of the company plummeted by as much as 65 percent. Musk claimed that he was the first person to lose $200 billion as a result of the plunge.
Some investors will be able to attend in person at the investor day that will be streamed.
The investor day announcement was made byTesla.
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