Elon Musk's year has not been the greatest, but Tesla is the silver lining bringing in more than 405,000 vehicles in the fourth quarter of 2022, despite the controversies that surrounded the electric vehicle company.
Things Are Looking Up for Tesla
Tesla delivered around 405,278 cars from October to December, which sets a new record for the company. However, it still did not reach the estimate that analysts have provided, which predicted that Tesla would sell 418,000 vehicles in its Q4.
It's still a significant increase compared to Tesla's sales last year within the same period, wherein the company managed to deliver 308,600 cars. It's especially impressive if you consider the cancellations for this quarter due to Musk's recent erratic behavior on Twitter.
As mentioned in Engadget, Tesla's Model 3 and Model Y held the most sales for the company in the fourth quarter of 2022. 388,131 of the mentioned models were received by the customers before the previous year was over.
As for Tesla's more pricey models, Model S and Model X, there were 17,147 vehicles delivered at the same time as the Model 3 and Model Y. Overall, Tesla produced 439,701 vehicles in just the last three months, which is another record by itself.
Tesla Defying the Odds
It's been established that Elon Musk did not have it easy in 2022, and it's mostly because of his controversial actions and statements. Add the acquisition of Twitter to that and how he sold Tesla shares to make sure that Twitter stays above ground.
The tech mogul sold nearly $15.5 billion worth of Tesla shares to finance the social media platform which was worth $44 billion, and this was right after he said that he would not sell Tesla stock anymore, as mentioned in The Guardian.
Tesla has seen its lowest stock price by the end of last year, which has been in a decline for eight months. The stock price has lost more than half its value, and investors are already worried about Musk's ability to manage the EV company.
The issue with Elon Musk's divided attention may come to an end soon enough. The Twitter owner tweeted a poll asking users if he should step down as the platform's CEO, and the results led to 57% saying he should.
He is set to step down once he finds someone who is willing to take his place. Although, that doesn't mean that Musk will not have responsibilities for Twitter anymore, seeing as he still owns it. He will still monitor company matters and step in for major decisions.
What can be described as the perfect storm for Musk has knocked him out of the spot for being the richest man on Earth. That spot is now occupied by Bernard Arnault, the CEO of LVMH, and is worth $10 billion more than Elon Musk in value.
