Tesla stock jumps after reporting record vehicle deliveries for 2021

Shares of Tesla persevered to leap on Monday, a day after the electric vehicle maker beat fourth-quarter and beefy-twelve months supply expectations.

The inventory closed up 13%.

Tesla delivered 308,600 electric autos within the fourth quarter of 2021. For the beefy twelve months, the corporate delivered 936,172 autos, marking an 87% rise twelve months over twelve months. Wall Boulevard analysts had anticipated Tesla deliveries of 267,000 within the fourth quarter and 897,000 for all of 2021, per a consensus compiled by FactSet.

Investors rallied around the inventory, as deliveries are the closest approximation of gross sales reported by the corporate. Tesla will command earnings for remaining quarter within the impending weeks.

Tesla CEO Elon Musk has said he desires to magnify the corporate’s vehicle gross sales volume to 20 million each twelve months over the following nine years. As fragment of that effort, Tesla is decided to birth production of the Model Y crossover at its new manufacturing facility in Austin, Texas, this twelve months. It goals to commence one other manufacturing facility in Brandenburg, Germany, after that.

 — CNBC’s Lora Kolodny contributed to this file.

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