Tesla Shares Soar After Company Reports This Many Deliveries for 2021

Shares of electric vehicle maker Tesla were jumping on Monday after the company reported record vehicle deliveries for last year.

The company beat on both fourth quarter and full-year delivery expectations for 2021.

Tesla delivered 308,600 electric vehicles in the fourth quarter of 2021 and for the full year, the company delivered 936,172 vehicles. The full year figure represented a rise of 87% YOY.

Wall Street analysts had expected Tesla deliveries of 267,000 in the fourth quarter and 897,000 for all of 2021, according to a consensus compiled by FactSet.

The stock was up more than 12% in afternoon trading.

The company will announce earnings for the last quarter in the coming weeks.

CEO Elon Musk has said that he wants to increase the company’s vehicle sales volume to 20 million annually over the next nine years.

The company will be beginning production of the Model Y crossover at its new factory in Austin, Texas, this year. It aims to open another factory in Brandenburg, Germany, after that.
Despite the big jump for Tesla today, it was automaker Ford that saw the biggest increase in 2021.

The company’s shares had jumped around 140% in 2021, making it the top performing auto stock on Wall Street.

Morgan Stanley analyst Adam Jonas said it was “truly a breakthrough year for Ford … easily the most important year strategically for the company since the financial crisis.”

Since Jim Farley took the CEO helm more than 15 months ago, the stock is up by more than 200%.

Disclaimer: We have no position in any of the companies mentioned and have not been compensated for this article.