The electric vehicle manufacturer Tesla has published its results for the fourth quarter of 2022. At the end of the year, the company delivered 405 thousand cars, in 2021 – 308 thousand cars. However, the results of the last three months of this year did not justify the forecasts of Wall Street analysts, who expected deliveries of up to 433,000 vehicles.
Analysts cite low demand in the Chinese auto market, as well as competition from Ford Motor Co, General Motors Co and startup Rivian Automotive, as the main reason for such indicators, CNBC reports.
In addition, the supply of electric vehicles was affected by the lack of microchips, the lockdowns in China and the purchase of Twitter by Musk.
In November, the value of the company’s securities on the stock exchange fell sharply. Investors began to worry that the businessman, after buying Twitter, began to pay less attention to his business in the field of electric vehicles.
In mid-December, Elon Musk sold 22 million Tesla shares worth $3.6 billion, priced from $156 to $176 each. Subsequently, the businessman decided not to sell the company’s shares for two years. The businessman predicted a “severe recession” in 2023. Musk now owns 13.4% of Tesla.
Author:
karina pardaeva
Source: RB
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