Shares of Tesla closed down 12% on Tuesday, a day after the electric auto maker reported fourth-quarter vehicle production and delivery numbers for 2022 that fell shy of analysts’ expectations and the company’s stated goals.
Deliveries are the closest approximation of sales disclosed by Tesla. The company reported 405,278 total deliveries for the quarter and 1.31 million total deliveries for the year. The full year numbers represented a record for the Elon Musk-led automaker and growth of 40% in deliveries compared to 2021.
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