Elon Musk’s Tesla Comes Up Short of 2022 Delivery Target as Growth Slows
Electric car maker falls short of its initial goal of increasing annual deliveries by 50% or more last year
Tesla says changes in how the company produces cars and distributes them to customers left more vehicles in transit to their final destination at year-end. Photo: Toru Hanai/Bloomberg News
Tesla Inc. delivered fewer vehicles in 2022 than it initially targeted, capping a year during which the stock suffer its worst annual performance as demand appeared to soften and Covid-related production disruptions persisted.
Elon Musk‘s electric-vehicle maker said Monday that it delivered around 1.31 million vehicles last year, up roughly 40% from 2021. The company would have needed to hand over more than 1.4 million vehicles to meet its initial goal of increasing deliveries by 50% or more. Tesla signaled in October that it likely would come up short of its target, and Wall Street had already moderated its delivery expectations to around 1.34 million for 2022, according to FactSet.
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