Tesla's record did not please investors

Tesla broke a record for vehicle deliveries in the third quarter of 2022 despite ongoing production and supply chain issues, but the figure fell short of estimates as logistics issues caused delays in deliveries. Electric car manufacturer Tesla broke a record by delivering 343,830 vehicles worldwide in the third quarter of 2022. Analysts surveyed by Bloomberg estimated 358,000. In the same period a year ago, this figure was 241,300. "As our production volumes continue to increase, it has become quite challenging to provide rational cost in vehicle shipping capacity," the Texas-based electric vehicle manufacturer said in a statement. CEO Elon Musk said in a statement on Twitter, "We want to ease the crazy last quarter delivery wave to reduce costs and reduce stress on the Tesla team. We aim for more stable deliveries in the quarter." The figures announced by Tesla came amid growing concerns that the deterioration in the global economy will also reduce consumer demand. These negative expectations caused shares of many companies, from Apple to Tesla, to fall last week. Tesla shares fell in Asian markets after the announcement.