Tesla delivers 405,278 vehicles in the fourth quarter, missing Wall Street expectations

Tesla on Sunday announced 405,278 vehicles delivered in the fourth quarter of 2022. While the automaker hit a record number of deliveries, it fell short of Wall Street expectations of about 420,000 to 425,000 units delivered.< /p>

The electric vehicle company also announced total production of 439,701 vehicles in the fourth quarter. This brings Tesla's total annual shipments to 1.31 million and total production in 2022 to 1.37 million.

While Tesla reported an impressive 40% growth in shipments, the company also missed its own guidance for the year, which predicted 50% growth in production and shipments for the year. The automaker needed to sell 495,760 vehicles in the fourth quarter to meet those targets.

Tesla's fourth quarter deliveries are up from 343,830 vehicles sold in the third quarter. The automaker's last-minute discounts might have given Tesla a boost towards the end of the quarter. Partly in response to the Inflation Reduction Act's electric vehicle tax credits, which would give Tesla buyers rebates of up to $7,500, Tesla cut $3,250 in early December and $7,500 the last week the price of models 3 and Y delivered to the United States in December.

Tesla also offered discounts in Mexico and China last quarter, and it's not yet clear how those price cuts would have affected the automaker's margins.

Tesla's Production and Delivery Report does not disclose numbers by region, but Tesla said production at its two new factories, Austin and Berlin, has increased in recent months. The company also ramped up production at its Fremont and Shanghai plant, which rebounded from production delays due to COVID-19 control measures.

Some investors are concerned that the current lack of COVID-19 control measures in China could also affect Tesla's sales in the event of widespread illness. Many also worry about CEO Elon Musk's antics and the distraction caused by his Twitter overhaul.

The company's share price, which has fallen 65% since January, has been largely unaffected by delivery numbers, rising 1.12% today.