Auto sales are likely to have fallen to their lowest level in a decade except for Tesla.
Tesla has had quite a phenomenal year with record breaking production and deliveries in 2022
Analysts expect the car industry sold fewer than 14 million trucks and cars in 2022, the lowest since 2011, all the while Tesla had a record setting production year.
“For over a decade, low interest rates have helped people buy the big cars that Americans like,” said Jessica Caldwell, executive director of insights at Edmunds. Low rates from the Fed are what made those attractive offers for zero-percent financing and 72-month loans possible, but with the higher rates, it’s a pretty unfriendly market for people buying a car.”
Many automakers, except Tesla, are claiming that it was hard to acquire enough batteries for their electric cars and trucks. Apparently some people have been waiting months to buy certain models, like Ford’s F-150 Lightning and G.M.’s Hummer pickup trucks.
Tesla Tops Vehicle Industry Sales By a huge Margin
The following table shows clearly that Tesla did not have the same problems with high interest rates and acquiring enough batteries for their vehicles, that the rest of the car industry experienced in 2022.
Vehicle Manufacturer | 2022 Vehicle Sales |
Tesla | 40% Sales Gain |
General Motors | 2.5% Sales Gain |
Ford | 2.0%.Sales Gain |
Hyundai | 1.0% Sales Gain |
Kia | -1.1% Sales Loss |
Subaru | -4.7% Sales Loss |
Audi | -5.0% Sales Loss |
Toyota | -10% Sales Loss |
Stellantis | -13% Sales Loss |
BMW | -15% Sales Loss |
Nissan | -25.4% Sales Loss |
Honda | -32.9% Sales Loss |
Tesla reported 1.31 million deliveries in 2022, growth of 40% over 2021
Total Tesla deliveries Q4 2022: 405,278
Total Tesla production Q4 2022: 439,701
Total Tesla annual deliveries 2022: 1.31 million
Total Tesla annual production 2022: 1.37 million
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