Tesla Inc. said it expects to grow deliveries at 37 percent this year, sharply lower than previous estimates of growth near 50 percent annually for the foreseeable future.
The automaker, which saw sales increase globally by 40 percent for 2022, slashed prices earlier this month amid expectations of an economic slowdown in the U.S. and greater competition in global markets.
Net profit for the quarter was $3.69 billion, or $1.07 per share, compared with $2.32 billion, or 68 cents per share, a year earlier.
Tesla said in its fourth-quarter shareholder letter that a 50 percent growth rate continues to be its long-term target, but a variety of factors would impact the number year by year.
“In some years we may grow faster and some we may grow slower, depending on a number of factors,” Tesla said, putting global sales at around 1.8 million this year vs. 1.31 million last year.
Tesla shares rose 1 percent to $145.80 in after-hours trading.