Tesla simply revealed its fourth-quarter automobile manufacturing and supply report for 2022.

Listed here are the important thing numbers.

Whole deliveries This autumn 2022: 405,278
Whole manufacturing This autumn 2022: 439,701
Whole annual deliveries 2022: 1.31 million
Whole annual manufacturing 2022: 1.37 million

Deliveries are the closest approximation of gross sales disclosed by Tesla. These numbers represented a brand new report for the Elon Musk-led automaker and development of 40% in deliveries year-over-year.

Nevertheless, the fourth quarter numbers fell shy of analysts’ expectations.

In keeping with a consensus of analysts’ estimates compiled by FactSet, as of Dec. 31, 2022 Wall Avenue was anticipating Tesla to report deliveries round 427,000 for the ultimate quarter of the 12 months. Estimates up to date in December, and included within the FactSet consensus, ranged from 409,000 to 433,000.

These more moderen estimates have been in step with a company-compiled consensus distributed by Tesla investor relations Vice President Martin Viecha. That consensus, revealed by electrical automobile business researcher @TroyTeslike, mentioned that 24 sell-side analysts anticipated Tesla deliveries of about 417,957 on common for the quarter (and about 1.33 million deliveries for the complete 12 months).

Tesla began manufacturing at two new factories this 12 months — in Austin, Texas and Brandenburg, Germany — and ramped up manufacturing in Fremont, California and in Shanghai, however it doesn’t disclose manufacturing and supply numbers by area.

Within the fourth quarter of 2022, Tesla mentioned deliveries of its entry stage Mannequin 3 sedan and Mannequin Y crossover amounted to 388,131, whereas deliveries of its increased finish Mannequin S sedan and Mannequin X SUV amounted to 17,147.

In its third-quarter shareholder presentation, Tesla wrote: “Over a multi-year horizon we anticipate to attain 50% common annual development in automobile deliveries. The speed of development will depend upon our gear capability, manufacturing facility uptime, operational effectivity and the capability and stability of the provision chain.”

The interval ending Dec. 31, 2022 was marked by challenges for Tesla, together with Covid outbreaks in China, which brought on the corporate to quickly droop and cut back manufacturing at its Shanghai manufacturing facility.

Through the fourth quarter, Tesla additionally provided steep worth cuts and different promotions within the U.S., China and elsewhere with the intention to spur demand, regardless that doing so may put stress on its margins.

In a current e-mail to Tesla employees, Elon Musk requested staff to “volunteer” to ship as many automobiles to clients as doable earlier than the top of 2022. In his e-mail, Musk additionally inspired staff to not be “bothered” by what he characterised as “inventory market craziness.”

Shares of Tesla plunged by greater than 45% over the past six months.

In December, a number of analysts expressed concern about weakening demand for Tesla electrical automobiles, that are comparatively costly in contrast with an growing variety of hybrid and totally electrical merchandise from opponents.

Together with opponents starting from business veterans Ford and GM to upstart Rivian, Tesla is poised to reap the advantages of Biden’s Inflation Discount Act this 12 months, which incorporates incentives for home manufacturing and purchases of totally electrical automobiles.

Retail shareholders and analysts alike attributed a few of Tesla’s falling share worth in 2022 to a so-called “Twitter overhang.”

Musk offered billions of {dollars} price of his Tesla holdings final 12 months to finance a leveraged buyout of the social media enterprise Twitter. That deal closed in late October. Musk appointed himself CEO of Twitter and has stirred controversy by making sweeping modifications to the corporate and its social media platform.

Shares of Tesla began to rise once more within the ultimate days of December 2022, in anticipation of report fourth-quarter and full-year deliveries.

Correction: This story has been up to date to replicate the proper numbers for Mannequin 3 and Y, and Mannequin S and X automobile deliveries for the fourth quarter of 2022.