Tesla’s shares plunge further on weaker than expected sales (2 min read)
Tesla delivered a weaker than expected global sales report which sent its stocks plunging more than 12%, continuing the massive slide in share prices from last year. Although Tesla had record sales in 2022, it was still lower than the growth rate set by the company. Q4 sales specifically were far below analysts’ estimates. The shortfall raised concerns about weakening demand for Tesla vehicles amid numerous headwinds such as higher interest rates, increased EV competition, and backlash against Elon Musk.