Tesla smashes vehicle delivery records
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Tesla reported fresh quarterly and full-year delivery records, underscoring how it's weathering the chip shortage hobbling the auto industry and signaling wider momentum for electric cars.
Driving the news: Tesla said Sunday that it delivered 308,600 cars worldwide in the fourth quarter and 936,172 for all of 2021, beating analysts' estimates.
- Tesla's stock is up about 7% this morning in premarket trading.
What they're saying: "This was a 'trophy case' quarter for [CEO Elon] Musk & Co. with massive momentum moving into 2022," Wedbush Securities analyst Dan Ives said in a note.
The big picture: It's the latest moment in a strong run for the automaker, which is now consistently profitable and reported a record $1.6 billion in Q3 net earnings.
- Tesla's market value exceeded $1 trillion in October.
Yes, but: The Wall Street Journal notes Tesla has not completely avoided supply chain woes, and Tesla also suffered a setback with a big recall announced last week.
