Tesla Q4 Deliveries Up

(RTTNews) - Tesla Inc. (TSLA) on Monday reported increase in production and deliveries for the fourth quarter, despite concerns regarding slowing demand for electric vehicles amid recession fears.

The luxury electric car maker delivered 405,278 vehicles in the last three months of the year, up 4% from last year.

Tesla delivered 388,131 Model 3 compact sedans and Model Y sports utility vehicles (SUVs), which was up 4%. The company also delivered 17,147 Model S/X in the fourth quarter, up 9%.

The automaker made a total of 439,701 cars in the fourth quarter.

In 2022, vehicle deliveries grew 40% year-over-year to 1.31 million, while production grew 47% from a year ago to 1.37 million.