The 2022 figure topped the prior record of 936,000 vehicles delivered in 2021, but it was shy of the 1.4 million needed to reach the company's 50% growth target.
AUSTIN, Texas — Tesla said Monday that sold a record 1.3 million vehicles last year, but the number fell short of CEO Elon Musk's pledge to grow the company's sales by 50% nearly every year.
With the extra U.S. push, Tesla delivered more than 405,000 vehicles worldwide in the fourth quarter. But that missed Wall Street projections. Analysts polled by data provider FactSet expected 427,000 deliveries from October through December and 1.33 million for the full year. Tesla didn't roll out any new models last year, and it's facing increasing competition from legacy automakers and startups such as Lucid and Rivian, which are continually introducing new electric vehicles.
The discounts, offered during the last two weeks of the year, raised questions about whether demand was softening for Tesla products as the Federal Reserve raised interest rates to combat inflation., bumping Musk out of the top spot for the world's wealthiest person, according to Forbes.The company's stock decline for the year, its worst ever, was more than triple the drop in the S&P 500, which was down 19.4%.
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