Rare for Tesla to deliver less than it produces
Tesla shares had their worst year in 2022 since going public
Gap between production and deliveries continues to grow

Jan 3 Reuters Tesla Inc said quarterly deliveries fell short of market estimates on Monday, held back by ongoing logistical issues and growing demand concerns that rounded off a tumultuous 2022 for the Elon Muskled firm.

The company is still the world39;s most valuable automaker even after losing 65 of its market value in 2022. Shares fell 8.5 to 112 on Tuesday.

Tesla delivered 405,278 vehicles in the fourth quarter ended Dec. 31, short of analysts39; estimates of 431,117, according to Refinitiv. For all of 2022, the electricvehicle maker39;s deliveries rose by 40, missing Musk39;s 50 annual target.

We believe Tesla is facing a significant demand problem … many investors underestimate the magnitude of the demand challenges Tesla is facing, Bernstein analyst Toni Sacconaghi said.

The shortfall also highlighted the logistics hurdles facing a company known for its endofquarter delivery rush, with the gap between production and deliveries widening to 34,000 vehicles as more cars got stuck in transit.

Tesla also plans to run a reduced production schedule in January at its Shanghai plant, extending the lowered output it began in December into 2023, Reuters has reported.

Tesla has tried up prop up demand with a rare set of discounts on its topselling vehicles as competition deepens from legacy…