By Cristian Bustos. Originally published at ValueWalk.
Tesla Inc (NASDAQ:TSLA) has set a new record of electric vehicle deliveries for any quarter. According to the company’s fourth-quarter vehicle production and deliveries report for 2021, the automotive giant was able to deliver 308,600 units, beating analysts’ estimates.
Q3 2021 hedge fund letters, conferences and more
A New Quarterly Record
As reported by CNBC, electric car juggernaut Tesla delivered the most units in Q4 2021 when compared to any quarter in the company’s history, taking the year’s total to 936,172 vehicles.
Wall Street analysts had estimated Tesla would be able to deliver 267,000 units in Q4, and 897,000 for the whole year, while the new record sent the stock up by over 7% in premarket trading Monday.
“For the full year, Tesla delivered 936,172 vehicles, an 87% increase versus 2020 when it reported its first annual profit on deliveries of 499,647,” CNBC reports, while it adds that “in the third quarter of 2021, vehicle deliveries reached 241,300, Tesla’s previous best quarter.”
The numbers represent deliveries for the flagship Model S and X cars, plus the lower-end Model 3 and Y lines. The Model S sedan and the Model X falcon wing account for nearly 3% of total deliveries last year.
Fighting Off Chip Shortages
Tesla’s delivery results are impressive bearing in mind the impact that the global semiconductor shortage has had on the automotive industry. Elon Musk, CEO of the company, underlined the issues Tesla has faced to secure microchips for its highly automated products.
However, in the second year of the pandemic, the car manufacturer was able to increase production and exceed deliveries in the Shanghai plant. Meanwhile, in Freemont, California, Tesla came up with a series of technical changes that could shed the necessity of unavailable parts.
“Notably, Tesla announced in May that it was removing radar sensors from Model 3 and Model Y vehicles built for customers in North America,” according to CNBC.
Elon Musk also said he was planning to take Tesla’s electric car sales volume to 20 million annually over the next decade, thanks to the recently opened factory in Austin, Texas, and the upcoming Brandenburg plant in Germany.
Tesla is part of the Entrepreneur Index, which tracks 60 of the largest publicly traded companies managed by their founders or their founders’ families.
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