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Tesla broke the delivery record with 308,600 vehicles in the last quarter

Bloomberg – Tesla Inc. delivered 308,600 vehicles worldwide in the fourth quarter, breaking the electric carmaker’s previous record and setting the record for a year in which the company joined the $1 trillion market valuation club. la monopoly.

Results better than expected posted Sunday pushed Tesla’s total sales for the year to more than 936,000 units, up about 87% from sales of just under half a million vehicles in 2020. An average of 13 analysts surveyed by Bloomberg had predicted around 263,000. vehicles for the quarter, although some revised up their numbers in the final days of December.
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“This has been a worthwhile quarter for Tesla as the company has blown expectations away even if the case is bullish,” Daniel Ives, an analyst at Wedbush Securities, said in an e-mailed statement. He called it “an incredible performance for Musk & Co. December quarter with big fluctuations until 2022”.

Quarterly deliveries are one of the metrics Tesla watches most closely. They underpin the company’s financial results and are seen by many as a gauge of consumer demand for electric vehicles in general because the company has been a leader in the production of battery-powered cars.

Cryptocurrency trading suggests Tesla shares will rise when Wall Street wakes up on Monday. Tesla tokens gained less than 1% on crypto exchange FTX after the delivery was announced on Sunday.

Shares of the EV market leader have soared on expectations of continued growth, with the stock up nearly 50% in 2021 and a market valuation in excess of $1 trillion – one of only five listed companies. U.S.-based publicity achieves that status. Shares fell 1.3% on December 31 to close at $1,056.78.

Read more: Tesla cedes a bit of a trillion-dollar value by year-end

Tesla has repeatedly said it expects annual deliveries to grow by 50% over a multi-year period. The seventh straight quarterly gain came amid a global semiconductor slump that limited production by most other automakers and kept sales in check despite demand. increase.

CEO Elon Musk, who became The world’s richest man last year, described 2021 as a “supply chain nightmare” even as his company continues to increase deliveries each quarter. It outperformed other automakers in part because their engineers went to great lengths to rewrite the software to accommodate whatever chips they could find for other purposes.

Tesla has said that its delivery numbers should be considered somewhat conservative and that the final figure could change by 0.5% or more.

Actual deliveries and production don’t necessarily match one in any given quarter. Output was 305,840 in the fourth quarter and 930,422 for the year.

The company doesn’t break down sales by geographic region, but the US and China are its biggest markets, and the majority of sales go to the Model 3 and Y. Tesla currently makes the Model S, X, and 3. and Y at their factory in Fremont, California, and Model 3 and Y at their factory in Shanghai. In 2022, Tesla will add production capacity with two new factories opening in Austin, Texas, and Berlin.

Musk has promised to provide updates on Tesla’s new product plans during the company’s next round of earnings reports.

–With support from Tony Robinson.

© 2022 Bloomberg LP

https://time.com/6132314/tesla-q4/ Tesla broke the delivery record with 308,600 vehicles in the last quarter

Aila Slisco

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