Tesla reports record quarterly deliveries, but less than expected

NEW YORK, Jan 2 (Reuters) – Tesla Inc reported record fourth-quarter electric vehicle production and deliveries on Monday, but did not meet Wall Street estimatesdue to persistent logistical problems and slowing demand in a context of rising interest rates and fears of a recession.

The world’s most valuable automaker delivered 405,278 vehicles in the final three months of the year, versus Wall Street expectations of 431,117 vehicles, according to Refinitiv data.

The company had delivered 308,600 vehicles in the same period of the previous year.

Tesla delivered 388,131 Model 3 compact sedans and Model Y SUVs, plus 17,147 luxury cars Model X y Model S.

The automaker built 439,701 cars in the fourth quarter.

Tesla has faced the challenge of securing transportation to handle a quarter-end surge in deliveries, and Chief Executive Elon Musk said in October that he was working to resolve the problem.

Analysts have also pointed to possible weakness in the demand in chinathe main automobile market in the world.

In addition, there is concern of a slowdown in Tesla due to stiff competition from automakers like Ford Motor Co, General Motors Co, and startups like Rivian Automotive and Lucid Group.

Uncertainty over credit for electric vehicles in the United States has also likely led some customers to hold off on their purchases.

(Reporting by Akash Sriram and Baranjot Kaur in Bengaluru