© Reuters. Tesla (TSLA) tops analyst expectations for Q4 deliveries
(Updated – January 2, 2024 9:38 AM EST)
Tesla (NASDAQ:) produced about 495,000 electric vehicles (EVs) in the fourth quarter of the last year, the company said today.
EV maker also delivered 484,507 units in the quarter, which is just above the analyst consensus of 483,173, according to numbers compiled by Bloomberg. Analysts were expecting Tesla to produce 482,336 units.
Tesla stock is down 0.8% at the New York open.
Looking at the entire year of 2023, the electric car manufacturer recorded deliveries totaling 1.81 million vehicles, reflecting a 38% year-over-year increase.
In terms of production, Tesla manufactured approximately 1.85 million vehicles over the same period, marking a 35% YoY growth.
Model 3/Y deliveries were 461,538 in Q4, while production numbers for these models stood at 476,777.
“No major surprises here, but the slight Q4 delivery beat and the achievement of Tesla’s 1.8mln 2023 volume goal will likely be viewed favorably amid the generally negative sentiment around EV demand,” analysts from Citi said.
“From here, the focus will shift to Q4 automotive margins to gauge the price vs. cost equation (Tesla reports January 24) and the company’s 2024 outlook (the consensus is for 2024 deliveries at 2.17mln units, +20% vs. now reported 2023).”
This story originally appeared on Investing
