Tesla, a producer of electric vehicles, claims to have shipped a record 1.3 million vehicles in 2018, a 40% increase from 2021.
It comes after the business delivered more than 405,000 cars in the last three months of 2022. But that figure fell short of Wall Street’s forecast of 430,000 deliveries during that time.
The demand for automobiles is anticipated to decline this year as potential purchasers fret over the recession and rising loan rates.
Authorities in South Korea announced on Tuesday that they would punish Tesla for $2.2 million (£1.8 million) for neglecting to disclose to buyers that its electric vehicles’ range in cold weather is reduced.
Deliveries in the final quarter of the year were almost 34,000 below what Tesla produced, highlighting the logistical challenges encountered by the manufacturer of the most valuable cars in the world.
For Tesla, the shortage is unusual because it had previously been able to deliver approximately as many cars as it had made.
Elon Musk, the company’s CEO, stated he was attempting to remedy the problem in October.
Like other automakers, Tesla will face challenges in the next year from the prospect of sluggish vehicle demand as consumers deal with higher borrowing rates and concerns about an economic slowdown.
Along with more recent competitors like Rivian and Lucid in the US and BYD and Nio in China, Tesla is also up against established automotive industry heavyweights like Ford and General Motors.
The company’s financial results for the final three months of 2022 and the entire year are expected to be released on January 25.
In a different statement, Tesla stated that it intended to stream the Investor Day event live from its Texas Gigafactory on March 1.
Tesla’s shares dropped by 65% in 2022, the company’s worst year since coming public in 2010, as investors fretted about manufacturing problems, a slowdown in demand, and Mr. Musk’s attention to Twitter.
The multi-billionaire purchased the social networking site for $44 billion (£36.4 billion) at the end of October, and he has since devoted a lot of his time to trying to turn the company around.