Tesla inc on the dawn on monday has reported that the Q4 deliveries fell by about 34000 vehicles due to short of production as logistics is hampered. 

On Monday, Tesla Inc. reported record production and deliveries for the fourth quarter of electric vehicles, but it fell short of Wall Street expectations due to logistical issues, sluggish demand, rising interest rates, and recessionary fears.

In contrast to Wall Street expectations of 431,117 vehicles, the most valuable automaker in the world delivered 405,278 vehicles in the final three months of the year, according to Refinitiv data. The company have conveyed that they have delivered 308600 vehicles in the same period earlier 

The company has said that they have delivered 388131 Model 3 compact sedans and Model Y sports utility vehicle ( SUV) in comparison to its luxury segment vehicles Model X and Model Y which stands at 17147. In totality the company made 439,701 cars in the fourth quarter.

Tesla’s fourth quarter deliveries fell about 34,000 vehicles short of production as logistical bottlenecks persisted, a problem CEO Elon Musk had promised to address in October.

It hasn’t happened often for the automaker; in prior quarters, it typically delivered more or roughly equivalent numbers of cars to those made.Analysts have identified a number of challenges for Tesla, including weak demand in China, the world’s largest auto market, as well as fierce competition from venerable automakers like Ford Motor and General Motors as well as upstarts like Rivian Automotive and Lucid Group.

According to a review of an internal schedule, Tesla intends to run a reduced production schedule in January at its Shanghai plant, extending the decreased output it started this month into next year.

Due to the New Year’s holiday, Tesla’s stock did not trade on Monday. In 2022, the company’s worst year since going public in 2010, it saw a 65 percent decline. Analysts and retail investors were concerned that problems with demand brought on by a shaky economy would undermine the company’s goal of increasing deliveries by 50% annually.

Tesla in a separate statement have stated that it is planning to host its investors summit on march 1 and livestream the event in the gigafactory in texas. Tesla have said that they are going to discuss the long term plans for expansion and capital allocation 

At the Investor Summit, the automaker also teased a “generation 3” platform. Tesla is developing a “next-generation vehicle,” according to Musk, which will be less expensive and smaller than the Model 3 and Model Y cars. Musk stated this in October.