Tesla’s Deliveries In Q3 Fail To Meet Analyst Expectations While Facing Rise In Commodity Prices
Tesla, the largest electric vehicle maker in the world has reportedly posted data for its vehicle delivery and production numbers for Q3 2022.
Despite having produced record-high vehicles, Tesla has failed to meet the expectations set by the analysts for the respective quarter.
Vehicle Delivery and Production Data
Tesla has posted that for the quarter, they have delivered 343,000 vehicles. In the same quarter, they produced 365,923 vehicles.
According to Tesla, the delivery figures they share are the closest to what they achieve in terms of vehicle sales.
Tesla officials confirmed that despite delivering a very high number of vehicles in the quarter, they failed to meet the expectations set by the analysts.
The analysts had set the delivery expectations for the vehicles in the quarter to be 364,660 vehicles. Compared to expectations, Tesla delivered 21,660 fewer vehicles in the third quarter of 2022.
Production Segregation per Model
Tesla revealed that in the particular quarter, it produced 19,935 Model X and Model S vehicles. These are the highest-priced vehicles currently being produced by Tesla.
The fewer experience models are Model Y and Model 3 and in the same quarter, Tesla reportedly produced a combined figure of 345,988 of these models.
For the same quarter in 2021, Tesla reported it had produced a total of 258,580 vehicles. This quarter, Tesla has produced 107,343 more vehicles compared to the same quarter the past year.
Data from Q3 2021
For the third quarter of 2021, Tesla reported it had delivered 254,695 vehicles. As for production, Tesla produced a total of 228,882 Model Y and Model 3 vehicles. Tesla had only produced 8,941 Model X and Model S vehicles in the same quarter.
Issues Faced by Tesla
Tesla has revealed that they have been facing multiple issues that are stopping the company from operating at its full potential.
The major issue at hand for Tesla like the rest of the companies from around the world is the constant rise in commodity prices.
Ever since the economic pressure started to build, commodity prices have also risen tremendously. The rise in energy prices has also made things quite difficult for their company.
Europe is currently facing the worst situation where the energy crisis is on a large scale, causing a very negative impact on their sales in the region.
China Market is Helping Tremendously
While the US and the European markets are going into a slump, the China market is doing well. Just recently, Tesla had to shut down one of its plants in Shanghai for upgrades.
During that time, the company’s sales dipped in China but since the reopening of the plant, the sales have rebounded and have hit a higher number.
Despite the fact that Tesla is doing well compared to the past year, the rising economic pressure causing an energy crisis is badly impacting its performance.
Investors are also concerned about the company’s future, which is why it has not performed well in the stock market. The recent trading session for Tesla has ended with a 1.4% dip in share prices.