by Tesla announced record production and deliveries of electric vehicles (EVs) for the fourth quarter of 2021, but missed Wall Street estimates due to logistics problems, slowing demand, rising interest rates, and fears of a recession. The company delivered 405,278 EVs in the final three months of the year, compared to the expected 431,117 vehicles. This was an increase from the 308,600 EVs delivered in the same period in 2020. Most of the deliveries were Model 3 compact sedans and Model Y SUVs, while only 17,147 were Model X and Model S luxury cars. In total, Tesla produced 439,701 cars in the fourth quarter. Logistical bottlenecks have persisted for the company, with fourth quarter deliveries falling about 34,000 vehicles short of production. Other challenges for Tesla have included weaker demand in China and competition from traditional automakers and startups. The company’s stock fell 65% in 2022, its worst year since going public in 2010. Tesla plans to host an Investor Day on March 1, during which it will discuss long-term expansion plans and capital allocation, and may also unveil a “generation 3” platform.
