In April, CEO Elon Musk said Tesla will produce more than 1.5 million cars in 2022. By his first three quarters, the company had produced 929,910 cars, so he would have needed to produce over 570,000 cars in the final quarter to reach that goal.
Although production exceeded deliveries by more than 22,000 in the third quarter, the gap could continue in the previous quarter as some cars were still in transit at the start of the year. .
In a recent note, Robert W. Baird analyst Ben Kallo lowered its estimates for shipments in the fourth quarter and 2023 “given the reported slowdown in production and the weakening macro environment.” I was. Kallo expects the automaker to report 378,262 deliveries in the quarter.
“I worry about the general economic environment,” Kallo said in an interview with Bloomberg Television.
Tesla’s Model 3 sedan and Model Y SUV make up the majority of sales.
Tesla has cars on sale until midnight on New Year’s Eve and will report global deliveries and production totals within three days of the end of the quarter.
The company has a long history of going all out at the end of the quarter, with Tesla employees coming across the company to help turn cars over to customers.
On its last earnings call, Chief Financial Officer Zachary Kirkhorn said one-third of the quarter’s shipments occurred in the last two weeks of the third quarter.