Tesla Inc. delivered more than 308,000 vehicles in the fourth quarter, blowing away analysts’ expectations, and saw sales surge about 87% in a year that saw the electric-vehicle maker top $1 trillion in market cap for the first time.
In a statement Sunday, Tesla TSLA, -1.27% said it delivered more than 936,000 vehicles in 2021 — 911,209 of which were Model 3s and Ys. That’s almost double the production of 2020, when it made just shy of 500,000 vehicles. Tesla added that its final delivery numbers are slightly conservative, and may rise slightly after final calculations are made for its fourth-quarter earnings earnings announcement.
Wall Street consensus was for fourth-quarter deliveries of about 266,000 vehicles, with some bullish analysts predicting numbers between 275,000 and 289,000.
“This was a ‘trophy case’ quarter for Musk & Co. with massive momentum moving into 2022,” Wedbush analysts Daniel Ives tweeted Sunday.
Tesla stock rose about 50% in 2021, and has rallied 36% over the past three months despite a roughly monthlong selloff as Musk sold about 10% of his stake in the company, while exercising even more stock options.
After topping $1 trillion in market capitalization for the first time in October, it briefly fell below that level during the selloff, but rejoined that exclusive club in December. As of Dec. 31, the company was valued at about $1.06 trillion.
Source: This post first appeared on http://marketwatch.com/