New York CNN Business —Tesla posted a solid quarter of earnings and record revenue, but now says it will fall short of its target for a 50% growth in the number of cars it sells this year.
As recently as July it said it was still aiming for a target of a 50% growth from the 936,000 cars it delivered in 2021.
The company had previously reported it delivered 344,000 cars in the third quarter, a record for the company, and up 42% from a year ago.
But it would have needed to deliver another 495,000 cars in the fourth quarter in order to hit the 50% growth target.
Shares briefly shaved their after-market losses when Musk mentioned the buyback, only to see the stock lose even more ground after the company moved off its 50% sales growth target.