Home News Electric vehicles

Tesla adds US$144 billion to market value after record deliveries

Bloomberg
Bloomberg1/4/2022 9:10 AM GMT+08  • 3 min read
Tesla adds US$144 billion to market value after record deliveries
"This is a trophy-case quarter for Tesla."
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

Tesla Inc is off to a strong start to the new year after the electric-car maker smashed its quarterly record for deliveries in what one analyst called a “trophy-case” performance.

The company’s shares jumped 14% in New York, their biggest gain since March and best start to a year since Tesla went public more than a decade ago. The US$144 billion in market value that Tesla added on Monday is the equivalent of an entire Honeywell International Inc. or Starbucks Corp. It’s also more than the value of almost 90% of the companies in the S&P 500 Index.

Worldwide deliveries totalled 308,600 vehicles in the fourth quarter, well ahead of the average analyst estimate of roughly 263,000 vehicles, and topping the company’s previous record of 241,300 from the prior quarter. Annual handovers surged to more than 936,000 in 2021, up 87% from the previous year’s level, Austin, Texas-based Tesla said Sunday.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.