Tesla could meet ambitious 50 percent growth target for 2022 in the US

Tesla Fremont factory courtesy of Becca Farsace / The Verge
Credit: Becca Farsace | The Verge

Coming off a strong 2022 report card by Tesla, the company will nearly meet its 50 percent growth target in its home country. This is according to Cox Automotive.

Tesla is an ambitious company under CEO Elon Musk. He set a yearly growth target of 50 percent, which means the company would sell 1.4 million cars in 2022. While official global sales results won’t come for a few more days, Cox Automotive has predicted the EV maker will nearly reach its growth target for the year in the US.

Cox Automobile expects Tesla to sell 133,879 vehicles in the US in the last quarter of 2022. This would be a 16.2 percent increase over the fourth quarter of 2021. The figure would bring the total for 2022 to 524,693, a 48.9 percent jump for the US market.

Cox Automobile has yet to release projected sales in other markets, making it difficult to know what to expect. However, Tesla has had a terrific year in 2022 in other countries. It broke the sales record in Norway set by the Volkswagen Beetle more than 50 years ago and saw its 100,000th car registered. Asia has also seen massive growth, especially in China, where it has a rapidly expanding manufacturing hub. Tesla clinched several first positions in its biggest market, including the best-selling luxury car.

Tesla will be more than happy to post such news as it might help reverse its recent stock price crash.