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Tesla delivers almost 1 million electric cars in 2021, reports 87% increase

The corporation delivered more than 308,000 automobiles in the fourth quarter alone, a 71 per cent increase over the previous quarter. The Model 3 sedan and Model Y hatchback accounted for the vast majority of deliveries.

Tesla delivers almost 1 million electric cars in 2021 reports 87 per cent increase gcw
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New Delhi, First Published Jan 3, 2022, 1:34 PM IST
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Despite the computer chip scarcity that has affected vehicle manufacturers throughout the world, Tesla revealed on Sunday that it delivered 936,000 cars in 2021, an 87 per cent increase from the previous year. The corporation delivered more than 308,000 automobiles in the fourth quarter alone, a 71 per cent increase over the previous quarter. The Model 3 sedan and Model Y hatchback accounted for the vast majority of deliveries. Analysts on Wall Street had predicted 266,000 auto deliveries in the fourth quarter and 855,000 for the year. "The metrics are difficult to pick holes in," Wedbush Securities analyst Daniel Ives wrote in a letter to investors.

He stated that, despite the fact that there are numerous rivals in the EV field, Tesla continues to dominate market share, as seen this quarter. Despite a global scarcity of computer chips, which serve as the brains for a range of devices, including engine controls and touch displays, Tesla doubled its sales. Because of the shortfall, most automakers were compelled to idle their factories for weeks at a time, preventing them from producing as many automobiles as they had expected.

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Elon Musk, Tesla's CEO, stated in July that his business was overcome the scarcity by switching to more commonly accessible semiconductor types and developing new instructions, or firmware, to be placed in the chip. Tesla is able to make such a change since its vehicles' components are designed to be primarily controlled by software. Tesla does not categorise its deliveries based on country. Sales in Europe and China have driven most of its recent growth. The increase in deliveries rounded off a historic year for Tesla, which saw its stock price and profits skyrocket. In order to support its quick expansion, it has also pushed to construct plants near Austin, Texas, as well as Berlin.

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Tesla's market value surpassed $1 trillion for the first time in October, making it more valuable than General Motors, Ford Motor, Toyota, Volkswagen, Stellantis, BMW, and numerous other manufacturers combined. Tesla's shares ended at $1,056.78 on Friday, up from a little under $700 at the end of 2020. Increased sales and earnings propelled the stock's growth. The corporation made $1.6 billion in the third quarter, more than double its earnings for the entire year of 2020, its first profitable year.

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