Tesla sells record 1.3 million vehicles in 2022 despite malfunctions and recalls
Luke Gentile
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Tesla announced Monday that the company had sold a record 1.3 million vehicles in 2022.
While 1.3 million sales falls below Elon Musk’s pledge of growing sales by 50% annually, it is a new record for Tesla.
The record figure tops the 936,000 vehicles delivered in the previous year, and production grew by 47%.
Production in Tesla’s Shanghai factory was stunted by rising coronavirus cases in China.
Musk’s goal of 50% growth would have required the delivery of 1.4 million vehicles.
Tesla appeared to attempt to meet that goal with a series of efforts, including a year-end sales push that featured $7,500 discounts in the United States.
“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,” Tesla said in a release Monday.
While no new models were released in 2022, Musk has promised that 2023 will see the start of production on the company’s Cybertruck.
Tesla stock was battered in 2022, with the company dropping out of the top 10 largest companies in the S&P 500.
Factors, which could include increased competition and the actions of Musk relating to Twitter, saw Tesla shares drop by 65% in the last year.
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Musk has said that Tesla’s long-term fundamentals remain strong and attributed the company’s current situation to “short-term market madness,” according to a Dec. 30 tweet.
Tesla had a rocky 2022, as vehicle malfunctions prompted complaints and, in some cases, recalls. Car fires involving the electric vehicles proved incredibly difficult to extinguish, requiring nearly 20,000 gallons of water. Further, the company’s controversial self-driving feature continues to evoke concerns as 2023 begins.