Tesla car sales grow slower than expected in 2022; Is it concerning?

Tesla said Monday that deliveries in the last three months of the year rose 18 percent from the previous quarter, disappointing Wall Street analysts and adding to pressure on Elon Musk, the company's chief executive, to focus on making cars rather than overhauling Twitter.

Tesla said it delivered 405,000 electric cars from October through December. Wall Street analysts had predicted that Tesla would sell around 420,000 vehicles, up from 343,000 vehicles in the third quarter.

The company sold a total of 1.3 million cars in 2022, a 40 percent increase from the year before. That was short of the 50 percent annual growth target Tesla had set for itself.

Industry watchers are concerned that demand for Tesla's relatively pricey electric vehicles could bottom out amid global economic uncertainty and stiffer competition in the sector.

They are also concerned about Musk's current focus on operations at social media site Twitter, which he acquired last year.