In a significant development, Tesla Inc has reported record quarterly deliveries far exceeding Wall Street’s estimates, as it rides out global chip shortages.
The development the sixth consecutive quarter for Tesla, the world’s most valuable automaker, wherein it posted record deliveries.
In the fourth quarter Tesla delivered 308,600 vehicles, significant higher than analysts’ forecasts of 263,026 vehicles.
Tesla’s October-December deliveries were up about 70% from a year earlier and nearly 30% higher from record deliveries the preceding quarter.
“Great work by Tesla team worldwide!” tweeted Tesla CEO Elon Musk.
On an annual basis, Tesla boosted deliveries by 87% from a year earlier to 936,172 vehicles in 2021.
In October, Musk had said Tesla will be able to maintain an annual growth rate of more than 50% for “quite a while.”
“They have beaten all the odds,” said Gene Munster, managing partner at venture capital firm Loup Ventures. “The first is the demand for their products is through the roof. And the second is they’re doing a great job of meeting that demand”.
He went on to add, he expects Tesla’s deliveries to grow to 1.3 million vehicles this year despite headwinds in production at its new factories and supply chain problems.
In October 2021, Tesla’s Chief Financial Officer Zachary Kirkhorn had said it was difficult to predict how quickly the company will be able to boost production at its new factories in Berlin and Texas, both of which will use new vehicle technologies and new teams.
In October Tesla had said it aimed to build its first production cars at both facilities by the end of 2021; it is not known whether Tesla met that target.