Tesla Don't Meet The Expected Sale Number In 2022

Tesla stated on Monday that it sold a record-breaking 1.3 million cars in 2022. However, this figure doesn't match with CEO Elon Musk's promise to increase the company's sales by 50 per cent almost every year.

The shortfall occurred despite a significant year-end sales drive that featured unusual $7,500 discounts in the US on the company's best-selling Models Y and 3.

The production at Tesla Inc.'s Shanghai factory was impacted by the novel coronavirus's increasing prevalence in China. Tesla Inc. is based in Austin, Texas.

Tesla delivered more than 405,000 vehicles globally in the fourth quarter due to the additional U.S. push. But it fell short of Wall Street's expectations. FactSet, a data company, surveyed analysts who predicted 1.33 million deliveries for the entire year and 427,000 deliveries from October through December.

As per Associated Press, Tesla said We thank all our employees, customers, shareholders, supporters and suppliers who helped Tesla to achieve great 2022 in light of significant COVID and in hardships of supply chain related issues in the whole year.

While Tesla didn't release any new models in 2022, it is now up against established manufacturers and up-and-coming startups like Lucid and Rivian, which are constantly releasing new electric vehicles.

But Musk has vowed that the long-awaited Cybertruck electric pickup will begin production this year. The company has recently begun shipping its electric semis.

Discounts were given over the final two weeks of the year, which prompted speculation about whether or not demand for Tesla products was waning as a result of the Federal Reserve raising interest rates to fight inflation.

That, along with Musk's actions following his $44 billion acquisition of Twitter, contributed to a more than 65percent decline in Tesla stock last year, knocking Musk down Forbes' list of the world's richest people.

The company's shares dropped by its worst amount ever for the year, more than tripling the 19.4percent decrease in the S&P 500.

The company's long-term fundamentals are solid, but "short-term market madness" is unpredictable, Musk wrote on Twitter on December 30.

Investors are concerned that Musk's attention has been diverted from the auto industry by Twitter. Musk stated last month that he intends to continue leading Twitter until he can locate a successor.