TESLA SAYS IT SOLD A RECORD 1.3 MILLION VEHICLES LAST YEAR

Tesla said that sold a record 1.3 million vehicles last year, but the number fell short of CEO Elon Musk's pledge to grow the company's sales by 50% nearly every year.

The 2022 figure topped the prior record of 936,000 vehicles delivered in 2021, but it was shy of the 1.4 million needed to reach the company's 50% growth target. Sales grew 40% year over year, while production climbed 47% to 1.37 million.

The shortfall came despite a major year-end sales push that included rare $7,500 discounts in the U.S. on the Models Y and 3, the company's top-selling models.

Tesla Inc., which is based in Austin, Texas, also had to deal with rising cases of coronavirus in China, which cut into production novel at its Shanghai factory.

With the extra U.S. push, Tesla delivered more than 405,000 vehicles worldwide in the fourth quarter. But that missed Wall Street projections.

Analysts polled by data provider FactSet expected 427,000 deliveries from October through December and 1.33 million for the full year.