TSLA Soars by 13% After Tesla Reported Record Vehicle Deliveries for 2021

Electric vehicle manufacturer Tesla recorded its best year in 2021, with the latest development sending its stock price up by more than 13%.

Tesla Delivered Nearly a Million Cars in 2021

Leading electric vehicle company, Tesla, reported earlier today that it had delivered 936,172 vehicles in 2021. This is the highest annual number the company has ever reported, with its stock price rising by more than 13%.

Tesla delivered 308,600 electric vehicles in the fourth quarter of last year, bringing its total for 2021 to 936,172. The total figures represent an 87% increase from the 2020’s deliveries, indicating massive growth for the company.

The figures also surpassed Wall Street’s expectations. Wall Street analysts had expected Tesla to deliver 267,000 vehicles in the fourth quarter of 2021 and 897,000 for all of last year. Tesla CEO Elon Musk wants the company to do better over the coming years.

According to Musk, Tesla should be able to deliver 20 million cars annually over the next nine years. The company is already working towards achieving that milestone as it will start production of the Model Y crossover at its new factory in Austin, Texas, later this year.

TSLA Rallies by More Than 13%

The shares of Tesla rallied by more than 13% today following the company’s latest sales report. TSLA was trading at $1,147 at the start of the market on Monday but rallied to a high of $1,201 before the market closed.

The latest rally has erased TSLA’s recent losses caused by Elon Musk selling some of his shares in the company and the recalling of nearly 500,000 Model 3 and Model S vehicles last week. In 2021, TSLA’s value soared by 70%, outperforming numerous vehicle manufacturers in the process.

Elon Musk said he is done selling Tesla stocks for now, and the announcement could serve as a further boost for the company.