Tesla deliveries surge 87% in 2021, smash quarterly file
Tesla Inc. shipped more than 308,000 vehicles in the fourth quarter, beating analysts’ expectations, and saw deliveries jump about 87% in a year the electric vehicle maker first hit $ 1 trillion in market cap.
In a statement on Sunday, Tesla TSLA said -1.27% said they shipped more than 936,000 vehicles in 2021 – 911,209 of which were Model 3 sedans and Model Y SUVs, almost double the 2020 total when around 500,000 vehicles were delivered. Tesla added that final shipments were a bit conservative and could increase slightly after final calculations are made for the fourth quarter earnings announcement.
Wall Street’s consensus was to deliver around 266,000 vehicles for the fourth quarter, with some bullish analysts predicting numbers between 275,000 and 289,000.
“This has been a ‘trophy-dropping’ quarter for Musk & Co. with massive momentum into 2022,” Wedbush analyst Daniel Ives tweeted on Sunday.
The spikes in production and deliveries were even more impressive given the chip shortages and supply chain issues plaguing automakers in 2021. The Wall Street Journal has reported that Tesla’s in-house software development has helped Tesla adapt to the chip shortage.
“Great work by the Tesla team worldwide!” Tesla boss Elon Musk tweeted on Sunday. He later tweeted: “Let’s make the roaring 20s a reality!”
Tesla stock rose about 50% in 2021 and has rallied 36% in the past three months, despite a sell-off lasting about a month, as Musk sold about 10% of his stake in the company while exercising even more stock options.
After topping $ 1 trillion in October, market cap briefly fell below that mark during the sell-off, but rejoined this exclusive club in December. As of December 31, the company was valued at approximately $ 1.06 trillion.