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Tesla (TSLA) Delivers Record-Setting 308,600 Cars in Q4
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Tesla (TSLA - Free Report) recently released its fourth-quarter 2021 production and delivery numbers. The red hot electric vehicle (EV) maker delivered 308,600 vehicles in the quarter, breezing past its previous high mark of 241,300 set in the third quarter of 2021. The automaker produced 305,840 cars during the same period.
For the reported quarter, Tesla listed Model 3 and Model Y deliveries of 296,850 vehicles. Meanwhile, the combined Model S and Model X deliveries hit just 11,750.
On the production front, the breakdown shows that Model 3/Y accounted for 292,731 of the total production figure, while the production count for its flagship Model S and X came in at 13,109.
For the full year, Tesla delivered 936,172 vehicles in total. Model 3 and Model Y deliveries amounted to 911,208, while 24,964 Model S/Xs were delivered in 2021.
As far as the production count for 2021 is concerned, Tesla produced 930,422 vehicles, with the breakdown coming in as 906,032 Model 3/Ys and 24,390 Model S/Xs.
Tesla manufactures its lower-priced Model 3 and Model Y vehicles at its factory in Shanghai and Fremont, CA, but only builds the Model X and S in Fremont.
The year 2021 witnessed a global deficit in semiconductor supply and other supply chain issues, making it difficult for automakers to obtain enough microchips and other unspecified parts. Amid this global crunch, Tesla was seen actively working on substituting alternative chips and rewriting its vehicle software to maintain production.
At its annual shareholder meeting, Tesla CEO Elon Musk stated that he wants to increase Tesla’s vehicle sales volume to 20 million EVs per year by 2030. In its quest to achieve this, Tesla is poised to start producing the Model Y at its new gigafactory in Austin, TX, this year. The auto giant is also removing the final hurdles to get its massive German gigafactory operational this year.
After a Nov 6, 2021,Twitter poll, in which Musk asked his followers if he should sell 10% of his Tesla holdings and they voted yes, Musk offloaded approximately 15.6 million shares for approximately $16.4 billion.
The auto biggie also recently moved its headquarters to Texas from California. In October, the company made headlines as it entered the elite $1-trillion club, achieving another historic milestone.
Some other stocks in the auto space that investors can consider are LCI Industries (LCII - Free Report) , Genuine Parts (GPC - Free Report) and LKQ Corporation (LKQ - Free Report) . While LCI Industries flaunts a Zacks Rank of 1, Genuine Parts and LKQ Corp carry a Zacks Rank of 2.
LCI Industries has an expected earnings growth rate of 25% for the fourth quarter of 2021. The Zacks Consensus Estimate for its fourth-quarter 2021 earnings has been revised downward by 7 cents in the past 60 days.
LCI Industries’ earnings beat the Zacks Consensus Estimate in three of the last four quarters while missing once. LCII has a trailing four-quarter earnings surprise of 10.09%, on average. LCI has rallied 21.4% in the past year.
Genuine Parts has an expected earnings growth rate of 10.53% for the fourth quarter of 2021. The Zacks Consensus Estimate for its fourth-quarter 2021 earnings has been revised upward by 4 cents in the past 60 days.
Genuine Parts’ earnings beat the Zacks Consensus Estimate in the last four quarters. GPC has a trailing four-quarter earnings surprise of 15.97%, on average. GPC has surged 42.4% in the past year.
LKQ Corp has an expected earnings growth rate of 18.84% for fourth-quarter 2021. The Zacks Consensus Estimate for its fourth-quarter 2021 earnings has been revised downward by 4 cents in the last 60 days.
LKQ Corp’s earnings beat the Zacks Consensus Estimate in the last four quarters. LKQ has a trailing four-quarter earnings surprise of 34.37%, on average. LKQ has rallied 72.9% in the past year.
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Tesla (TSLA) Delivers Record-Setting 308,600 Cars in Q4
Tesla (TSLA - Free Report) recently released its fourth-quarter 2021 production and delivery numbers. The red hot electric vehicle (EV) maker delivered 308,600 vehicles in the quarter, breezing past its previous high mark of 241,300 set in the third quarter of 2021. The automaker produced 305,840 cars during the same period.
For the reported quarter, Tesla listed Model 3 and Model Y deliveries of 296,850 vehicles. Meanwhile, the combined Model S and Model X deliveries hit just 11,750.
On the production front, the breakdown shows that Model 3/Y accounted for 292,731 of the total production figure, while the production count for its flagship Model S and X came in at 13,109.
For the full year, Tesla delivered 936,172 vehicles in total. Model 3 and Model Y deliveries amounted to 911,208, while 24,964 Model S/Xs were delivered in 2021.
As far as the production count for 2021 is concerned, Tesla produced 930,422 vehicles, with the breakdown coming in as 906,032 Model 3/Ys and 24,390 Model S/Xs.
Tesla manufactures its lower-priced Model 3 and Model Y vehicles at its factory in Shanghai and Fremont, CA, but only builds the Model X and S in Fremont.
The year 2021 witnessed a global deficit in semiconductor supply and other supply chain issues, making it difficult for automakers to obtain enough microchips and other unspecified parts. Amid this global crunch, Tesla was seen actively working on substituting alternative chips and rewriting its vehicle software to maintain production.
At its annual shareholder meeting, Tesla CEO Elon Musk stated that he wants to increase Tesla’s vehicle sales volume to 20 million EVs per year by 2030. In its quest to achieve this, Tesla is poised to start producing the Model Y at its new gigafactory in Austin, TX, this year. The auto giant is also removing the final hurdles to get its massive German gigafactory operational this year.
After a Nov 6, 2021,Twitter poll, in which Musk asked his followers if he should sell 10% of his Tesla holdings and they voted yes, Musk offloaded approximately 15.6 million shares for approximately $16.4 billion.
The auto biggie also recently moved its headquarters to Texas from California. In October, the company made headlines as it entered the elite $1-trillion club, achieving another historic milestone.
Zacks Rank & Other Key Picks
Tesla currently carries a Zacks Rank of 2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some other stocks in the auto space that investors can consider are LCI Industries (LCII - Free Report) , Genuine Parts (GPC - Free Report) and LKQ Corporation (LKQ - Free Report) . While LCI Industries flaunts a Zacks Rank of 1, Genuine Parts and LKQ Corp carry a Zacks Rank of 2.
LCI Industries has an expected earnings growth rate of 25% for the fourth quarter of 2021. The Zacks Consensus Estimate for its fourth-quarter 2021 earnings has been revised downward by 7 cents in the past 60 days.
LCI Industries’ earnings beat the Zacks Consensus Estimate in three of the last four quarters while missing once. LCII has a trailing four-quarter earnings surprise of 10.09%, on average. LCI has rallied 21.4% in the past year.
Genuine Parts has an expected earnings growth rate of 10.53% for the fourth quarter of 2021. The Zacks Consensus Estimate for its fourth-quarter 2021 earnings has been revised upward by 4 cents in the past 60 days.
Genuine Parts’ earnings beat the Zacks Consensus Estimate in the last four quarters. GPC has a trailing four-quarter earnings surprise of 15.97%, on average. GPC has surged 42.4% in the past year.
LKQ Corp has an expected earnings growth rate of 18.84% for fourth-quarter 2021. The Zacks Consensus Estimate for its fourth-quarter 2021 earnings has been revised downward by 4 cents in the last 60 days.
LKQ Corp’s earnings beat the Zacks Consensus Estimate in the last four quarters. LKQ has a trailing four-quarter earnings surprise of 34.37%, on average. LKQ has rallied 72.9% in the past year.