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Tesla Sales Were Up 18%, but Wall Street Is Underwhelmed

Analysts expected better numbers from Elon Musk’s car company in the fourth quarter.

Tesla Model 3 electric car is displayed during the Tesla launch in Bangkok on December 7, 2022.

Vachira Vachira via Getty

Tesla car sales were up 18 percent in the fourth quarter of the year, but that was short of analyst expectations, adding to pressure on stock prices that fell more than 65 percent in 2022. Elon Musk’s electric vehicle company sold a record 1.3 million cars last year—40 percent more than in 2021, but it failed to meet its own growth targets and left Wall Street underwhelmed. Tesla goes into the new year facing increased competition from other auto manufacturers, a looming recession, and a boss distracted by his purchase of Twitter.

Read it at The New York Times

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