Thursday, Sep 21, 2023
English News
  • Hyderabad
  • Telangana
  • AP News
  • India
  • World
  • Entertainment
  • Science and Tech
  • Sport
  • Business
  • Rewind
  • ...
    • NRI
    • View Point
    • cartoon
    • Columns
    • Education Today
    • Reviews
    • Property
    • Videos
    • Lifestyle
E-Paper
  • NRI
  • View Point
  • cartoon
  • Columns
  • Reviews
  • Education Today
  • Property
  • Videos
  • Lifestyle
Home | News | Tesla Falls Short Of 50 Growth Goal In 2022 Amid Musks Twitter Distraction

Tesla falls short of 50% growth goal in 2022 amid Musk’s Twitter distraction

The automaker needed to sell 495,760 vehicles in its fourth quarter (Q4) to have achieved the 50 per cent growth guidance.

By IANS
Published Date - 10:38 AM, Tue - 3 January 23
Tesla falls short of 50% growth goal in 2022 amid Musk’s Twitter distraction
whatsapp facebook twitter telegram

San Francisco: Elon Musk-run Tesla has missed its target of 50 per cent growth in production and deliveries for 2022, as its stock plummeted around 65 per cent amid Musk’s $44 billion Twitter takeover last year.

The automaker needed to sell 495,760 vehicles in its fourth quarter (Q4) to have achieved the 50 per cent growth guidance.

In the fourth quarter, Tesla produced over 439,000 vehicles and delivered over 405,000 vehicles.

In 2022, vehicle deliveries grew 40 per cent (year-on-year) to 1.31 million while production grew 47 per cent (on-year) to 1.37 million.

Tesla’s Q4 deliveries, however, are up from 343,830 vehicles sold in the third quarter (Q3).

“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 late on Monday.

Investors fear that the China Covid situation and supply chain-related challenges will further impact Tesla sales. They are also concerned about Musk’s distraction by his Twitter overhaul.

The Tesla CEO has become the first person ever to lose $200 billion from his net worth.

His wealth eroded further after he bought Twitter for a whopping $44 billion.

Meanwhile, Tesla also announced a price drop in several of its models, offering a $7,500 discount for its Model 3 and Model Y vehicles, in a bid to sell more vehicles.

    Also Read

  • Fidelity slashes its Twitter stake value by 56% as Musk faces challenges
  • Musk trolls Andrew Tate with pizza tweet
Telangana Today Whatsapp
  • Follow Us :
  • Tags
  • Elon Musk
  • Tesla

Related News

  • Long-form posts on X now at 3 bn views per day: Elon Musk

    Long-form posts on X now at 3 bn views per day: Elon Musk

  • Report finds Musk’s X lags in fighting climate change misinformation

    Report finds Musk’s X lags in fighting climate change misinformation

  • US DoJ probes Tesla perks for Elon Musk

    US DoJ probes Tesla perks for Elon Musk

  • Neuralink begins recruiting for first human brain-computer trial

    Neuralink begins recruiting for first human brain-computer trial

  • X will soon charge users “a small monthly payment”: Elon Musk

    X will soon charge users “a small monthly payment”: Elon Musk

  • Tim Cook says ‘there are some things he doesn’t like about Elon Musk’s X’

    Tim Cook says ‘there are some things he doesn’t like about Elon Musk’s X’

Latest News

  • Utilizing cough sound analysis for assessing severity in COVID-19 patients

    9 mins ago
  • Wonderla Hyderabad launches new water rides

    20 mins ago
  • Eight persons arrested for alleged involvement in murder of former Home Guard

    24 mins ago
  • Lalu Prasad Yadav enjoys ‘Launda Nach’ performance at Rabri Devi’s residence in Patna

    25 mins ago
  • Steel Banks by SHGs to address plastic pollution in Khammam

    30 mins ago
  • I came here in my childhood: Hansika Motwani visits Andheri cha Raja

    33 mins ago
  • Rupee rises 5 paise to close at 83.06 against US dollar

    39 mins ago
  • Gautam Gambhir meets SRK, says “he is simply the best”

    39 mins ago

company

  • Home
  • About Us
  • Contact Us

business

  • Subscribe

telangana today

  • Telangana
  • Hyderabad
  • Latest News
  • Entertainment
  • World
  • Andhra Pradesh
  • Science & Tech
  • Sport

follow us

© Copyrights 2022 TELANGANA PUBLICATIONS PVT. LTD. All rights reserved. Powered by Veegam