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Tesla says it sold a record 1.3 million vehicles last 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.

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Tesla says it sold a record 1.3 million vehicles last year

"Thank you to all of our customers, employees, suppliers, shareholders and supporters who helped us achieve a great 2022 in light of significant COVID and supply chain related challenges throughout the year," the electric vehicle and solar panel company said Monday.

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Tesla says it sold a record 1.3 million vehicles last year

Tesla didn't roll out any new models last year, and it's facing increasing competition from legacy automakers and startups such as Lucid and Rivian, which are continually introducing new electric vehicles.

But Musk has promised to start producing the long-awaited Cybertruck electric pickup this year. The company also has started delivering its electric semis.

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Tesla says it sold a record 1.3 million vehicles last year

The discounts, offered during the last two weeks of the year, raised questions about whether demand was softening for Tesla products as the Federal Reserve raised interest rates to combat inflation.

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Tesla says it sold a record 1.3 million vehicles last year

That, coupled with Musk's behavior after his $44 billion purchase of Twitter, helped , bumping Musk out of the top spot for the world's wealthiest person, according to Forbes.

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Tesla says it sold a record 1.3 million vehicles last year

The company's stock decline for the year, its worst ever, was more than triple the drop in the S&P 500, which was down 19.4%.

Musk wrote on Twitter Dec. 30 that the company's long-term fundamentals are strong, but "short-term market madness" is unpredictable.

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Tesla says it sold a record 1.3 million vehicles last year

Some investors are worried that Twitter has distracted Musk from the car company. Musk said last month that he plans to remain as Twitter's CEO until he can find someone willing to replace him in the job.