Tesla delivered a record 1.3 million vehicles in 2022, but still disappointed Wall Street

Tesla delivered a record number of cars last year as sales continued to grow at percentages any other major automaker would dream of

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But Tesla still managed to disappoint Wall Street throughout 2022, and the last quarter was no different.

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The electric car maker delivered 1.3 million vehicles in 2022, 40% more than in 2021. It produced almost 1.4 million vehicles

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However, the fourth quarter was disappointing: Tesla delivered just 405,278 vehicles, well below the median estimate of 431,000

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Although 40% growth is nothing to sneeze at, Tesla's growth rate is slowing. Deliveries nearly doubled in 2021 and more than quadrupled in 2020.

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Tesla (TSLA) shares fell 65% in 2022 as demand weakened. Competition in electric vehicles from established automakers emerged last year

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The company missed its growth targets throughout the year and reduced production in China.

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Investors were rocked by the redemptions, sending shares tumbling 37% in December alone.

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