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Tesla reports record quarterly deliveries but misses estimates


2023-01-02T17:42:24Z

A view shows the Tesla logo on the hood of a car in Oslo, Norway November 10, 2022. REUTERS/Victoria Klesty

Tesla Inc (TSLA.O) on Monday reported record production and deliveries for fourth-quarter electric vehicle deliveries but fell short of Wall Street estimates, burdened by lingering logistics problems and slowing demand amid rising interest rates and recession fears.

The world’s most valuable automaker delivered 405,278 vehicles in the last three months of the year, compared with Wall Street expectations of 431,117 vehicles, according to Refinitiv data.

The company had delivered 308,600 vehicles in the same period a year earlier.

Tesla delivered 388,131 Model 3 compact sedans and Model Y sports utility vehicles (SUVs) compared with 17,147 Model X and Model S luxury cars.

The automaker made a total of 439,701 cars in the fourth quarter.