Global Economic Intersection
Advertisement
  • Home
  • Economics
  • Finance
  • Politics
  • Investments
    • Invest in Amazon $250
  • Cryptocurrency
    • Best Bitcoin Accounts
    • Bitcoin Robot
      • Quantum AI
      • Bitcoin Era
      • Bitcoin Aussie System
      • Bitcoin Profit
      • Bitcoin Code
      • eKrona Cryptocurrency
      • Bitcoin Up
      • Bitcoin Prime
      • Yuan Pay Group
      • Immediate Profit
      • BitQH
      • Bitcoin Loophole
      • Crypto Boom
      • Bitcoin Treasure
      • Bitcoin Lucro
      • Bitcoin System
      • Oil Profit
      • The News Spy
      • Bitcoin Buyer
      • Bitcoin Inform
      • Immediate Edge
      • Bitcoin Evolution
      • Cryptohopper
      • Ethereum Trader
      • BitQL
      • Quantum Code
      • Bitcoin Revolution
      • British Trade Platform
      • British Bitcoin Profit
    • Bitcoin Reddit
    • Celebrities
      • Dr. Chris Brown Bitcoin
      • Teeka Tiwari Bitcoin
      • Russell Brand Bitcoin
      • Holly Willoughby Bitcoin
No Result
View All Result
  • Home
  • Economics
  • Finance
  • Politics
  • Investments
    • Invest in Amazon $250
  • Cryptocurrency
    • Best Bitcoin Accounts
    • Bitcoin Robot
      • Quantum AI
      • Bitcoin Era
      • Bitcoin Aussie System
      • Bitcoin Profit
      • Bitcoin Code
      • eKrona Cryptocurrency
      • Bitcoin Up
      • Bitcoin Prime
      • Yuan Pay Group
      • Immediate Profit
      • BitQH
      • Bitcoin Loophole
      • Crypto Boom
      • Bitcoin Treasure
      • Bitcoin Lucro
      • Bitcoin System
      • Oil Profit
      • The News Spy
      • Bitcoin Buyer
      • Bitcoin Inform
      • Immediate Edge
      • Bitcoin Evolution
      • Cryptohopper
      • Ethereum Trader
      • BitQL
      • Quantum Code
      • Bitcoin Revolution
      • British Trade Platform
      • British Bitcoin Profit
    • Bitcoin Reddit
    • Celebrities
      • Dr. Chris Brown Bitcoin
      • Teeka Tiwari Bitcoin
      • Russell Brand Bitcoin
      • Holly Willoughby Bitcoin
No Result
View All Result
Global Economic Intersection
No Result
View All Result
Home Business

Tesla Deliveries Miss Estimates As Company Blames Logistical Issues And Softening Demand

John Wanguba by John Wanguba
January 4, 2023
in Business
0
0
SHARES
14
VIEWS
Share on FacebookShare on Twitter

Summary

  • Rare for Tesla to deliver less than it produces
  • Tesla shares underperformed in 2022 since going public
  • Gap between output and deliveries continues to increase

Tesla Inc (TSLA.O) said quarterly deliveries missed market estimates on Monday, held back by growing demand concerns and ongoing logistical issues that capped a tumultuous 2022 for the Elon Musk-led firm.

A Tesla electric vehicle at the Auto Shanghai show in Shanghai, China

The firm is still the world’s most valuable automaker even after shedding 65% of its market value last year. Shares tumbled 8.5% to $112 on Tuesday.

Tesla handed over 405,278 vehicles to customers in the fourth quarter ended Dec. 31, falling short of analysts’ estimates of 431,117, according to Refinitiv. For all of last year, the electric-vehicle maker’s deliveries surged by 40%, missing Musk’s 50% annual target.

“We believe Tesla is facing a significant demand problem … many investors underestimate the magnitude of the demand challenges Tesla is facing,” Bernstein analyst Toni Sacconaghi said.

The shortfall also underscored the logistics hurdles facing a company renowned for its end-of-quarter delivery rush, with the gap between output and deliveries widening to 34,000 vehicles as more cars got stuck during transport.

market analysis

Tesla also intends to run a reduced production schedule in January at its Shanghai plant, extending the reduced output it started in December into 2023, Reuters has reported.

Tesla has tried to shore up demand with a rare set of discounts on its best-selling vehicles as competition intensifies from established automakers such as Ford Motor Co (F.N) and General Motors Co (GM.N) and startups such as Lucid Group Inc (LCID.O) and Rivian Automotive Inc (RIVN.O).

“Tesla’s previous gains have been based on delivering super-charged growth. Without that it looks (like) a different proposition,” said Russ Mould, investment director at AJ Bell.

Sacconaghi said demand challenges will continue into 2023 as most Tesla models are not eligible for a tax rebate and the company would need to either lower its growth targets or reduce prices.

The company, which has some of the biggest margins in the industry, will post quarterly results on Jan. 25.

The fourth-quarter deliveries comprised 388,131 Model Y sports utility vehicles (SUVs) and Model 3 compact sedans, compared with 17,147 Model S and Model X luxury cars.

Buy Bitcoin Now

Production stood at 439,701 vehicles.

Tesla said in a separate statement on Monday it plans to hold its Investor Day on March 1 and will probably discuss long-term plans for capital allocation and expansion at the event that will be hosted at its Texas Gigafactory.

The automaker also suggested a “generation 3” platform that could be demonstrated to investors at the event. Musk said in October that Tesla was working on a “next-generation vehicle” that will be less costly and smaller compared to the Model Y and Model 3 cars.

Tags: auto industryautomakersbusinessclean energydemandelectric vehiclesEVinvestmentlogistical issuesModel 3Model YTeslaTexas Gigafactory
Previous Post

Brazil’s Petrobras To Play A Major Role In Refinery Expansion – New Energy Minister

Next Post

Is Chainlink (LINK) A Great Investment In 2023?

Related Posts

What Is Andrew Tate’s Crypto Investment Portfolio?
Business

What Is Andrew Tate’s Crypto Investment Portfolio?

by John Wanguba
March 27, 2023
US Banks: The Good, The Bad, And The Ugly
Business

US Banks: The Good, The Bad, And The Ugly

by John Wanguba
March 27, 2023
8 Ways AV Technology Helps You Build A Successful Business
Business

8 Ways AV Technology Helps You Build A Successful Business

by John Wanguba
March 27, 2023
How Is Bitcoin Impacting The African Banking Sector?
Business

How Is Bitcoin Impacting The African Banking Sector?

by John Wanguba
March 27, 2023
What Are Bitcoin CME Gaps And How Do You Trade Them?
Business

What Are Bitcoin CME Gaps And How Do You Trade Them?

by John Wanguba
March 27, 2023
Next Post
Is Chainlink (LINK) A Great Investment In 2023?

Is Chainlink (LINK) A Great Investment In 2023?

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Browse by Category

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized

Browse by Tags

adoption altcoins bank banking banks Binance Bitcoin Bitcoin adoption Bitcoin market Bitcoin mining blockchain BTC business China crypto crypto adoption cryptocurrency crypto exchange crypto market crypto regulation decentralized finance DeFi Elon Musk ETH Ethereum Europe FTX inflation investment market analysis Metaverse mining NFT nonfungible tokens oil market price analysis recession regulation Russia stock market technology Tesla the UK the US Twitter

Archives

  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • November 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011
  • April 2011
  • March 2011
  • February 2011
  • January 2011
  • December 2010
  • August 2010
  • August 2009

Categories

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized
Global Economic Intersection

After nearly 11 years of 24/7/365 operation, Global Economic Intersection co-founders Steven Hansen and John Lounsbury are retiring. The new owner, a global media company in London, is in the process of completing the set-up of Global Economic Intersection files in their system and publishing platform. The official website ownership transfer took place on 24 August.

Categories

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized

Recent Posts

  • What Is Andrew Tate’s Crypto Investment Portfolio?
  • US Banks: The Good, The Bad, And The Ugly
  • 8 Ways AV Technology Helps You Build A Successful Business

© Copyright 2021 EconIntersect - Economic news, analysis and opinion.

No Result
View All Result
  • Home
  • Contact Us
  • Bitcoin Robot
    • Bitcoin Profit
    • Bitcoin Code
    • Quantum AI
    • eKrona Cryptocurrency
    • Bitcoin Up
    • Bitcoin Prime
    • Yuan Pay Group
    • Immediate Profit
    • BitIQ
    • Bitcoin Loophole
    • Crypto Boom
    • Bitcoin Era
    • Bitcoin Treasure
    • Bitcoin Lucro
    • Bitcoin System
    • Oil Profit
    • The News Spy
    • British Bitcoin Profit
    • Bitcoin Trader
  • Bitcoin Reddit

© Copyright 2021 EconIntersect - Economic news, analysis and opinion.

en English
ar Arabicbg Bulgarianda Danishnl Dutchen Englishfi Finnishfr Frenchde Germanel Greekit Italianja Japaneselv Latvianno Norwegianpl Polishpt Portuguesero Romanianes Spanishsv Swedish