Jan 3, 2022 - Economy

Tesla smashes vehicle delivery records

Tesla's annual vehicle deliveries
Data: Company reports; Chart: Axios Visuals

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.

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.

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