The company claims that its difficulties are temporary. Tesla posted record profits in the fourth quarter of 2022, and its revenue for the period rose 37% to $24.3 billion. The company's net income soared 59% to $3.7 billion, an all-time high.
For all of last year, the company's revenue jumped 51% to $81.5 billion and net income more than doubled to $12.6 billion. This gives the company confidence despite growing doubts about the strength of demand for its electric cars.