Tesla Delivers a Record 936,000 Vehicles in 2021, its Highest Ever Yearly Total

author: Eric Walz   

Electric automaker Tesla Inc easily beat Wall Street estimates with a record breaking number of vehicle deliveries to close out 2021. The company reported deliveries of 308,600 vehicles in the fourth quarter, which helped to boost Tesla's annual deliveries to more than 936,000 vehicles, the highest ever yearly total.

The Tesla Model 3 sedan and Model Y crossover made up a bulk of Tesla's annual production, as demand continues to rise for Tesla's more affordable models. The company delivered a combined total of 911,208 Model 3 and Model Y vehicles in 2021.

Deliveries of Tesla's flagship Model S and Model X SUV totaled 24,964 vehicles.

Tesla does not break down the sales of individual models.

Tesla's strong deliveries in 2021 beat analyst forecasts of roughly 263,026 vehicles. 

Tesla's delivery numbers are even more impressive when you factor in the global chip shortages and the lingering global pandemic. Tesla's Q4 deliveries were up 70% from a year earlier and nearly 30% higher from record deliveries the preceding quarter. It was Tesla's seventh consecutive quarterly gain.

In Q3, Tesla delivered 241,300, which represented a 73% jump compared to the same period last year.

"Great work by Tesla team worldwide!" Tesla Chief Executive Elon Musk wrote on Twitter.

Tesla's record fourth quarter deliveries are also the result of a production ramp up at its factory in Shanghai, where it produces the Model 3 and Model Y. Tesla continues to ship a higher number of these vehicles to Europe.

Tesla's rising delivery numbers show no signs of slowing down, as the company prepares for production at its two new factories in Germany and Texas to meet global demand for its EVs. Musk however, remains optimistic for 2022. 

Musk said in October last year that Tesla will be able to maintain an annual growth rate of more than 50% for "quite a while."

Shares of Tesla, which is now the world's most valuable automaker by far, were up almost 10% to $1,163.63 in early trading on Monday, the highest level in a month. The rising stock price pushed Tesla's market cap above $1.1 trillion.

Although global demand for Tesla's more affordable vehicles is on the rise, the company will face more competition in 2022 than it did in 2021. Tesla might find it a bit more difficult to maintain its upward sales momentum as the rest of the world's makers introduce their own battery powered models to compete.

However, like Apple products, Tesla's electric vehicles are popular with consumers. So it's still unclear if automakers like Volkswagen, BMW, General Motors and Ford can lure away Tesla customers with their new electric models hitting the market this year. 

Eric Walz

Originally hailing from New Jersey, Eric is a automotive & technology reporter covering the high-tech industry here in Silicon Valley. He has over 15 years of automotive experience and a bachelors degree in computer science. These skills, combined with technical writing and news reporting, allows him to fully understand and identify new and innovative technologies in the auto industry and beyond. He has worked at Uber on self-driving cars and as a technical writer, helping people to understand and work with technology.