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Tesla investor day: Elon Musk may explain why EV-maker fell short of 50% growth goal in 2022

Tesla has seen one of the worst months in December. The company’s share price went down by more than 10%. The US-based electric carmaker also fell short of its 50% growth target in 2022. Tesla investors have also not been too happy with CEO Elon Musk spending too much mind share on his new acquisition Twitter.
Tesla registers a healthy quarter
Tesla made Musk the wealthiest man in the world in 2021, the pounding that the company’s shares have received in the last few months has led to a huge fall in Musk’s wealth. Reports suggest that he has lost $200 billion. However, while all this may appear as quite gloomy for the company, it’s not really that bad.
Tesla registered another record quarter of deliveries, but yes it did miss the Wall Street analysts’ prediction by a few thousand. The company said it delivered 405,278 vehicles in the fourth quarter of 2022, which includes 17,147 Model S and X vehicles and 388,131 Model 3 and Y vehicles. Analysts predicted delivery of 415,000 vehicles during the Q4 2022.

“In the fourth quarter, we produced over 439,000 vehicles and delivered over 405,000 vehicles. In 2022, vehicle deliveries grew 40% YoY to 1.31 million while production grew 47% YoY to 1.37 million. We continued to transition towards a more even regional mix of vehicle builds which again led to a further increase in cars in transit at the end of the quarter,” the company said in a statement.
In 2022, Tesla delivered 66,705 Model S and X vehicles, and 1,247,146 Model 3 and Y vehicles. Analysts hoped that Tesla would deliver about 1.8 million vehicles in the year but Tesla needed to make the delivery of 1.4 million EVs in the year to reach its goal of 50% percent growth on a year-over-year basis.
Tesla, however, did mention that it struggled with supply chain and COVID-related issues throughout the year. “Thank you to all of our customers, employees, suppliers, shareholders and supporters who helped us achieve a great 2022 in light of significant COVID and supply chain related challenges throughout the year,” the company said.

Tesla Investor Day 2023 date
Tesla also announced that it will be hosting the Tesla Investor Day 2023 on March 1. Interestingly, the company says that the event will be live streamed from its Gigafactory Texas, “with the option for some of our institutional and retail investors to attend in person.” Details about the event are expected to be shared soon.
“Our investors will be able to see our most advanced production line as well as discuss long term expansion plans, generation 3 platform, capital allocation and other subjects with our leadership team,” Tesla said.
Recently, reports suggested that Tesla’s $25,000 Model 2 car may not be unveiled till 2024. Musk announced during Tesla Battery Day in 2020 that the company would develop a $25,000 electric car.

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