In Q4, Tesla stock (NASDAQ:TSLA) made more than 439,000 vehicles and delivered more than 405,000 vehicles. This was less than what Bloomberg had predicted, which was 420,760 units. Deliveries of 405,278 vehicles reflect a 40% year-over-year increase.
In FY22, manufacturing increased 47% year over year to 1.37 million vehicles, while total vehicle deliveries increased 40% year over year to 1.31 million.
In Q4, the company that makes electric cars made 20,613 Model S/X cars and 419,088 Model 3/Y cars. Deliveries included 17,147 Model S/X units and 388,131 Model 3 Y units.
1.30 million Model 3/Y automobiles and 71,177 Model S/X cars were produced by the business in FY22. 66,705 Model S/X vehicles and 1.25 million Model 3 vehicles were delivered.
In order to increase sales, the automaker is giving a $7,500 credit to Model S and X buyers in the United States. Chinese buyers of the Model 3 sedan and Model Y SUV can get up to 10,000 yuan ($1,450) back if they get their cars by February 28.
In 2022, shares saw their worst yearly performance, losing 65% of their value. Analysts attribute the drop in part to Musk selling shares to fund the acquisition of Twitter, as well as the shutdown of the Shanghai facility due to the COVID outbreak.
On Wednesday, January 25, 2023, following market close, Tesla will release its Q4 results.
On March 1, 2023, the business intends to host Tesla’s 2023 Investor Day.
China EV Startups
According to Li Auto (LI), it delivered 21,233 vehicles in December, with at least 10,000 going to its L8 and L9 hybrid SUVs. This increased by almost 50% over the previous year and by 41% above the previous high of 15,034 in November. Li Auto said that it would ship more than 20,000 hybrid SUVs in December.
As a model shift was in progress, Li Auto delivered 46,319 automobiles in the fourth quarter, increasing over 75% from the third quarter and up 31.5% from a year earlier. In 2022, Li Auto made 133,246 deliveries, an increase of 47% over 2021.
11,292 EVs were delivered by XPeng (XPEV) in December, a 29% decrease from the same month last year. Sales, however, increased 94% from November and surpassed 10,000 for the first time since July. There are 4,020 G9 SUVs in that number, which is a 160% increase from November for the relatively new crossover type. Deliveries for Q4 were 22,204, the lowest number since Q2 2021 and down from 29,570 in Q3. Sales for the entire year rose 23% to 120,757.
Nio (NIO) sold 15,815 cars in December, which was more than the previous record of 14,178 cars set in November and a 51% increase from a year earlier. Recently, Nio decreased its Q4 delivery forecast, citing problems with Covid. The forecast called for the delivery of 14,263–15,263 EVs in December. The two newest models from Nio, the 7,594 ET5 sedans and the 4,154 ES7 SUV, saw significant sales in December. A Tesla Model 3 rival is the ET5.
Sales for the fourth quarter increased by 60%, to 40,052, over the same period last year. Deliveries in 2022 increased by 34% to 122,486.
Like other EV manufacturers and growth companies in general, 2022 was difficult for Nio Stock, Li Auto, Xpeng, and BYD. All of them hit bottom in late October or early November but have since retreated.
Tesla Stock Price Continues To Fall Due To Concerns About Demand In China
Featured Image – Pexels © Pixabay