Tesla shares tumble following deliveries report


Tesla shares fell 13% on Tuesday morning. A day after the electric auto maker reported fourth-quarter. Vehicle production and delivery numbers for 2022.

Deliveries are the closest estimate to sales released by Tesla. The company reported 405,278 total deliveries for. The quarter and 1.31 million total deliveries for the year. The numbers represent a record for. The Elon Musk-led automaker and a 40% increase in year-over-year deliveries . But they fell shy of analysts’ expectations.

As of Dec. 31, 2022, Wall Street expected. Tesla to report about 427,000 deliveries in the year-end quarter. According to a consensus of analyst estimates compiled by FactSet. Estimates updated in December. And included in the FactSet consensus, ranged from 409,000 to 433,000.

These latest estimates were consistent with a company-compiled consensus distributed by. Tesla Vice President of Investor Relations Martin Vicha.

Some Wall Street analysts think Tesla’s deliveries miss trouble for. The electric vehicle maker, but others see a buying opportunity for the company in 2023.

Baird analyst Ben Callow, who recently named Tesla a top pick for 2023. Maintained an outperform rating and said he . Would remain a buyer of the stock ahead of the company’s earnings report, which is scheduled for Jan. 25.

“Q4 deliveries missed consensus but beat our estimates,” he said in a note on Tuesday. “Importantly, production increased ~20% q/q as gigafactories in Berlin and . Austin continue to ramp up which we expect to continue through 2023.”

Analysts at Goldman Sachs said they view. The delivery report as “increasingly negative” and view .   Goldman reiterated its buy rating on the stock in a note . Monday and said making vehicles . More affordable will be a “key driver of growth” in a challenging. Macroeconomic environment.

We believe the key debate from here will be. Whether vehicle deliveries can speed up again. Margins and the Tesla brand,” analysts said.

Tesla shares suffered an extreme year-long sell-off in 2022. With CEO Musk telling employees in late December to “not get too caught up in the stock market frenzy.”

Musk blamed Tesla’s falling stock price on rising interest rates. But critics point to his rocky $44 billion Twitter takeover as a big culprit for the slide.

Morgan Stanley analysts said. They think the company’s share price weakness is a “window of opportunity to buy.”

“Amid an evolving macro context, record high inefficiencies, and increasing competition. There are hurdles for all auto companies to overcome in the year ahead,” they said in a note on Tuesday. “Yet, against this backdrop we believe TSLA has. The potential to widen its lead in .


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