Tesla Inc. reported a quarterly shipping record that far exceeded Wall Street’s estimates, driving a shortage of global chips and when increasing China’s production.
It marked the sixth quarter in a row that the most valuable car maker in the world posted a record of delivery.
Tesla, led by the Billionaire CEO Elon Musk, delivered 308,600 vehicles in the fourth quarter, much higher than analyst estimates of 263,026 vehicles.
Tesla delivery October-December rose around 70% from the previous year and almost 30% higher than the previous quarter shipping record.
Tesla increases production in China for domestic sales and exports to Europe and other countries even though competitions rise and regulatory pressure increases after product complaints on product security.
Tesla said it sold a total of 296,850 models of 3 compact cars and Y Sport-Utility vehicle models to customers in the fourth quarter.
It provides 11,750 combined models and X vehicle models, an increase of 9,275 in the third quarter. Analysts expect Tesla to provide 12,879 models and models x cars.
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