Tesla Reports 87% Growth in 2021 Deliveries 

10.21.22 05:40 AM By Aria

Tesla Inc., a well-known American electric vehicle and clean energy company based in Texas, reports an 87% surge in annual vehicle deliveries in 2021. Tesla has been aiming to increase yearly deliveries by an average of 50%. However, the EV maker said it delivered more than 936,000 vehicles globally last year, up from nearly half a million before that. Moreover, they estimated that they had sold 3% more passenger vehicles than the 2020 sales. 


On the other hand, Model 3 sedans and Model Y compact sport-utility made up most of Tesla's annual deliveries, double from last year. Such performance helped Tesla increase its stock to 50% last year, increasing its market value above $1 trillion. This statement made Elon Musk the world's wealthiest person with a total net worth of $270 billion. In fact, last year, billionaire CEO Elon Musk reached several milestones across Tesla, SpaceX and Starlink, despite the health pandemic. 


Tesla increased sales despite a global shortage of computer chips, which serve as the brains for various electronics, including engine controllers and touch screens. The drought forced most automakers to idle some plants for weeks at a time and kept them from producing as many vehicles as they had planned. 


"The numbers are hard to poke holes in," Daniel Ives, an analyst at Wedbush Securities, wrote in a note to investors. "While there are many competitors in the EV space, Tesla continues to dominate market share as evidenced again this quarter." 


The jump in deliveries capped a momentous year in which Tesla saw its stock and profits soar. It has also worked to open factories near Austin, Tex., and Berlin in Germany to sustain its rapid growth. In October, Tesla's market value for the first time exceeded $1 trillion, making it more valuable than General Motors, Ford Motor, Toyota, Volkswagen, Stellantis, BMW and several other automakers combined. 


More and more are switching to Tesla as it has consistently been the best EV producer globally. Tesla stands at the first position for the past years and with 179,050 units sold last 2020, this EV manufacturer makes up 28% of the global market share. There is high consumer demand for Tesla's cars due to their innovative technology, modern design, and high performance. 


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