Tesla battered on Wall Street after disappointing deliveries


(Boursier.com) — You’re here lost more than 4% before the stock market on Wall Street, while Elon Musk’s group unveiled last night deliveries and production at an all-time high for its fourth quarter, but missed the consensus in terms of deliveries. In the fourth quarter, the group produced more than 439,000 vehicles and delivered more than 405,000 vehicles. In 2022, vehicle deliveries increased 40% year-on-year to 1.31 million, while production increased 47% year-on-year to 1.37 million. “We continued our transition to a more homogeneous regional mix of vehicle constructions, which again led to a further increase in the number of cars in transit at the end of the quarter”, nuances the group, whose figures come out too short in consensus comparison.

Analyst estimates for Tesla’s quarterly shipments, which have been falling steadily in recent weeks, were in the region of 421,000 according to the Bloomberg consensus. On the other hand, quarterly production, close to 440,000 units, exceeded market expectations (438,800 by Bloomberg consensus).

You’re here will announce its fiscal fourth quarter financial results after the close of Wall Street on Jan. 25. The group, whose share price lost two-thirds of its value last year, its worst year since the 2010 IPO, will also hold an investor meeting on March 1, with perhaps some new features. interesting.

Additionally, Tesla China boss Tom Zhu has reportedly been promoted to direct oversight of the electric car maker’s assembly plants in the United States as well as head of business operations in North America and Europe. , according to an internal message on the organization chart of the group of which the Reuters agency has taken note. Zhu would retain his position as group vice president for China and his responsibilities leading business activities in the rest of Asia. These changes would make the leader Tesla’s number two behind CEO and co-founder Elon Musk, since Zhu would therefore be responsible for overseeing both sales in all of the automaker’s major markets and the activity of its main production sites. Vehicle design and development remain separate activities, “while apparently making Tom Zhu the businessman’s right-hand man on shorter-term production and sales issues,” the agency said.

Zhu had been commissioned last year by Tesla to come with a team of collaborators to solve production problems in the United States. According to the organizational chart cited by Reuters, Tesla managers reporting to Tom Zhu would include Jason Shawhan, director of manufacturing at the Texas gigafactory, Hrushikesh Sagar, director of manufacturing at Fremont, Joe Ward, vice president in charge of Europe, Middle East and Africa, as well as Troy Jones, vice president in charge of sales and services in North America. Tesla executives in China, Japan, Australia and New Zealand also remain attached to him.



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