Tesla Inc on Sunday reported record quarterly deliveries that far exceeded Wall Street estimates, riding out global chip shortages as it ramped up China production.
It was the sixth consecutive quarter that the world’s most valuable automaker posted record deliveries. Tesla shares were up 10% to a one-month high in early trading on Monday
Tesla, led by billionaire CEO Elon Musk, delivered 308,600 vehicles in the fourth quarter, far higher than analysts’ forecasts of 263,026 vehicles.
Tesla’s October-December deliveries were up about 70% from a year earlier and nearly 30% higher from record deliveries the preceding quarter.