Tesla fails to reach its 2022 growth target of 50%

Tesla fails to reach its 2022 growth target of 50%

Analysts had anticipated a healthy 1.8 million cars delivered for the year, but Tesla only needed to produce 1.4 million in 2022 to achieve its target of 50% growth. Despite narrowly missing that target, it was another record quarter of deliveries for the EV manufacturer, which has faced a lot of hurdles this year, many of which had nothing to do with Elon Musk’s purchase of Twitter.

“We continued to transition towards a more even regional mix of vehicle builds which again led to a further increase in cars in transit at the end of the quarter,” the company said in a statement. “Thank you to all of our customers, employees, suppliers, shareholders and supporters who helped us achieve a great 2022 in light of significant COVID and supply chain-related challenges throughout the year.”