Tesla's Record Deliveries Driven by Price Cuts on EVs

Tesla reported record deliveries of 422,875 cars in Q1 2022, just ahead of analysts' estimates, after slashing prices to appeal to consumers affected by rising interest rates and inflation. However, the growth rate fell short of Elon Musk's goal of 50% annual growth. The company produced 440,808 vehicles during the quarter, more than expected, and aims to make 1.8 million to 2 million vehicles this year. Tesla's largest markets are the US and China, and the majority of sales were of the Model 3 sedan and Y crossover.