Tesla Reports Record Revenue for 2022, With 1.31 Million EVs Sold

From CNET: Tesla's finished 2022 on a tear, bolstered by recent price reductions for its stable of electric sedans and SUVs. The automaker's full-year 2022 earnings statement, released at the close of market Wednesday, revealed it delivered 405,278 electric cars in the fourth quarter -- up from 343,830 deliveries in the previous quarter. This brings Tesla's total deliveries in 2022 to 1.31 million cars, which is a record high for the brand and 40% growth year-over-year, but also just short of its own goal of 1.4 million deliveries.

In Tesla's earnings release, it notes that the average sale price for its vehicles has "generally been on a downward trajectory for many years." The automaker reduced prices by up to 20% on its lineup of electric cars late last year -- a move spurred partially by reduced demand but also to get the Model 3 and Model Y under the $55,000 qualification cap for the $7,500 electric sedan federal tax credit included in last year's Inflation Reduction Act.

Investors weren't super happy with the price cuts, but Elon Musk posited that more affordable Teslas is a good thing.

"It's always been our goal to make cars affordable to as many people as possible," Tesla's CEO said in a call Wednesday with investors. "So I'm glad that we're able to do so."

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