Tesla's sales prospects after a huge price cut early this year, facing a weak global economy, are a key focus for investors. The company has a long-term target of a compounded 50% annual rise.

Acknowledging concerns about the uncertain economic environment and rising interest rates, Tesla said it is "accelerating our cost reduction roadmap and driving towards higher production rates" in the near term.

"In any scenario, we are prepared for short-term uncertainty," it added.

Tesla has outperformed the industry and increased sales and profit to records in recent years, weathering the pandemic and global supply-chain issues better than rivals. But its recent, steep global price cuts mark a move toward stimulating growth at the expense of profit margins, underscoring softening demand.