Tech

Tesla stock closes up 13% after reporting record vehicle deliveries for 2021

Key Points
  • Shares of Tesla continued to jump on Monday.
  • The rally comes after the electric vehicle maker beat fourth-quarter and full-year delivery expectations for 2021.
  • Tesla delivered 308,600 electric vehicles in the fourth quarter of 2021.
  • For the full year, Tesla delivered 936,172 vehicles.

In this article

VIDEO3:3403:34
Here's what to watch for in Tesla's stock

Shares of Tesla continued to jump on Monday, a day after the electric vehicle maker beat fourth-quarter and full-year delivery expectations.

The stock closed up 13%.

Tesla delivered 308,600 electric vehicles in the fourth quarter of 2021. For the full year, the company delivered 936,172 vehicles, marking an 87% rise year over year. Wall Street analysts had expected Tesla deliveries of 267,000 in the fourth quarter and 897,000 for all of 2021, according to a consensus compiled by FactSet.

Investors rallied around the stock, as deliveries are the closest approximation of sales reported by the company. Tesla will announce earnings for last quarter in the coming weeks.

Tesla CEO Elon Musk has said he wants to increase the company's vehicle sales volume to 20 million annually over the next nine years. As part of that effort, Tesla is set to start production of the Model Y crossover at its new factory in Austin, Texas, this year. It aims to open another factory in Brandenburg, Germany, after that.

 — CNBC's Lora Kolodny contributed to this report.

Subscribe to CNBC on YouTube.

VIDEO2:2102:21
Tesla reports record number of vehicle deliveries in Q4 at 308,600