The company finally broke the 1 million-unit mark in 2022 with 1.3 million deliveries worldwide, amid a turbulent quarter that saw a steep stock price plunge and CEO Elon Musk’s chaotic takeover of Twitter.
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During the fourth quarter production in China, the biggest source of profit for the Austin, Texas-based company, had challenges from the country’s shifting policy on Covid-19, swinging from strict efforts to control its spread to a more hands-off approach by year’s end. That’s also had impacts on the broader economy, leading to a slowdown in domestic EV demand though exports of battery-powered vehicles from China remain robust.
The outlook for Tesla heading into 2023 is uncertain, given ongoing concerns that Musk’s fixation on Twitter–and substantial sales of Tesla stock–have left the company without focused leadership as competition in the EV space accelerates. Ives, a longtime Tesla bull, called for Musk to name a new CEO of Twitter by the end of January and set more conservative annual growth targets for the company of about 35% rather than reiterating a general target of 50% per year.
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