Tesla dominated the news cycle this half of the year. CEO Elon Musk’s purchase of social media company Twitter dismayed investors. It sent the company’s already-high stock price into free fall, which reached a two-year low in November.
In China, where Tesla makes one-third of its cars, production from the Shanghai factory was patchy. President Xi Jinping’s zero COVID policy kept the plant closed for weeks on end. The company lowered prices for the Model 3 and Model Y by 9% and threw in an insurance incentives too.