Tesla delivers close to 1 million vehicles in 2021, led by Model 3 & Y

Highlights

• Tesla Inc (TSLA) delivered 936,172 vehicles last year, up from 499,550 vehicles delivered in 2020, or an 87% increase YoY.
  
  
• In the fourth quarter of 2021, it delivered 308,600 cars compared to 241,300 in the previous quarter, the company said in a statement on Monday.
  
  
• The Model 3 and Model Y cars represented the majority of vehicles delivered in 2021.

Electric vehicle maker Tesla Inc (TSLA) on Monday said it delivered close to one million vehicles in 2021, driven by robust demand for EVs in the US and other markets.

The Austin, Texas-headquartered company delivered 936,172 vehicles last year, up from 499,550 vehicles supplied in 2020, or an 87% increase YoY.

In the fourth quarter of 2021, it delivered 308,600 cars compared to 241,300 in the previous quarter, the company said in a statement on Monday.

Of the total deliveries in 2021, Model S and Model X variants comprised 11,750 vehicles, Model 3 and Y constituted 296,850 vehicles.

The Model 3 and Model Y cars represented the majority of vehicles delivered in 2021, compared to the delivery of 24,964 vehicles of Model S and Model X options.

Tesla’s production outlook for 2022

Late last year, the company had said that it plans to increase its vehicle deliveries by around 50% every year. Tesla’s extraordinary deliveries in 2021 have surpassed its annual growth target, although it fell short of the one-million mark.

The latest delivery figure has brought the company a step closer to its short-term goal of reaching one million deliveries, which now seem quite achievable this year.

In November, CEO Elon Musk had asked the management to focus on cutting costs instead of rushing to make deliveries in the final quarter of 2021, noting that he expected a surge in vehicle deliveries from the Tesla factories in the US and China in December.

Tesla managed to pull off the year with a strong showing despite an acute global chip shortage, forcing its peers in the automotive industry to pump the brakes. Tesla had to briefly shut down operations at its California plant due to the crisis in February.

Despite these tethering issues, Tesla’s valuation surpassed US$1 trillion in October following the blockbuster deal with car rental company Hertz Global for supplying 100,000 cars.

It also saw its most profitable quarter ever in the third quarter.

However, Tesla is yet to release its third-quarter earnings of 2021.

Also Read: US markets close higher as Apple Inc briefly crosses US$3-trillion mark

Source: Pixabay

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Stock Performance

The Tesla (TSLA) stock was up 13.53% to US$1199.78 at the close of the regular session on Monday. The stock gained more than 64% in the past one year.

Its 52-week highest and lowest stock prices were US$1,243.49 and US$539.49, respectively. Its P/E ratio is 388.28, the forward P/E one year is 258.00, and the EPS is US$3.09.

Tesla’s current market cap is around US$1.2 trillion.