Tesla Inc. reported a record quarterly deliveries on Sunday that far exceeded Wall Street estimates, weathering a global shortage of chips while increasing production in China.
This is the sixth consecutive quarter that the world’s highest-value automaker has posted a record for deliveries.
Tesla, led by billionaire Elon Musk, delivered 308,600 vehicles in the fourth quarter, well above analyst forecasts of 263,026 vehicles.
Tesla deliveries between October and December were up 70% from a year earlier and nearly 30% from the previous quarter’s record.
“Great job from the Tesla team around the world!” Musk tweeted.
His firm increased production in China despite even increased competition and regulatory pressure amid consumer complaints about the safety of its products.
Tesla ships models made in China to Europe and some Asian countries.
On an annual basis, the automaker raised its deliveries 87% from a year earlier, to 936,172 vehicles in 2021. Musk said in October that Tesla will be able to maintain its annual growth rate of more than 50% for “a good time.” .