- Tesla just reported third-quarter vehicle production and delivery numbers for 2022.
- During this quarter in 2021, Elon Musk’s auto business reported deliveries of 241,300 electric cars.
- According to estimates compiled by FactSet-owned Street Account, analysts were expecting Tesla to report deliveries of 364,660 cars for the period ending September 30, 2022.
Electric vehicle makers Tesla just posted third-quarter vehicle production and delivery numbers for 2022. Here are the numbers:
- Total deliveries Q3 2022: 343,000
- Total production Q3 2022: 365,000
Deliveries are the closest approximation of sales reported by Tesla, and they fell short of analysts' expectations 364,660 vehicles, according to estimates compiled by FactSet-owned Street Account.
Tesla also said in its report the company produced 19,935 of its higher priced Model S and X vehicles, and 345,988 of its more popular Model 3 and Y vehicles during Q3.
Total production increased from the prior quarter of 2022, when Tesla said it made 258,580 vehicles.
During the year-ago quarter, Tesla reported deliveries of 254,695 vehicles, and that it had produced 237,823 cars including just 8,941 Model S and X vehicles, which are the company's more expensive sedan and SUV with falcon-wing doors, respectively.
In the third quarter of 2022, Tesla faced soaring commodity prices, executive turnover (with the notable departure of AI leader Andrej Karpathy in July) and growing pains at its new factories in Germany and Texas.
Tesla has not historically disclosed its vehicle production and delivery numbers by region.
In July this year, Tesla had to suspend most of its Shanghai factory production temporarily to make upgrades to the plant. By the month of August, however, the company's production and deliveries in China had rebounded, according to China Passenger Car Association data.
In the U.S., at the end of the second quarter, Tesla laid off an entire AI office and made other headcount cuts. Musk also mandated that all Tesla employees should work at a Tesla office at least 40 hours per week, even if they were previously allowed to work remotely.
After that, some employees were dismissed and others chose to resign, while those who returned to the office found over-crowded conditions that persisted through the third-quarter, making it hard to get work done normally at some of the companies facilities, including its first U.S. car factory in Fremont, California, and battery plant outside of Reno, Nevada.
By September, executives speaking at an all-hands meeting with employees at the Nevada Gigafactory were celebrating new production records, and lauding employees' hard work.
As CNBC previously reported, Tesla execs said at that time August had been a record month for the Fremont factory in terms of production, and that Tesla's relatively new factory in Austin, Texas, had hit a 1,000 cars per-week production rate on a seven day rolling basis, a promising milestone.