Investors welcomed Tesla’s (TSLA) Q4 production and delivery numbers as they sent the automaker’s market capitalization surging up by $100 billion on the first trading day of 2022.
Tesla’s lead in electric vehicle production is becoming undeniable.
As we reported yesterday, Tesla released its Q4 2021 results and confirmed that it produced “more than 305,000 electric vehicles and delivered over 308,000 electric vehicles during the quarter.”
These results were about 40,000 electric cars over Wall Street expectations, which is a massive expectation beat – even for Tesla.
With demand for electric vehicles going through the roof, the focus is on automakers ramping up EV production, and Tesla is proving to be the best at it right now.
Cars, electric or otherwise, are hard to manufacture, and it takes time to increase production volumes.
On top of it, current supply chain issues are making things difficult throughout the entire auto industry.
It makes Tesla’s growth over that period even more impressive.
For years, Tesla naysayers have said that demand will fall once other automakers launch electric vehicles, but as many EV proponents predicted, the opposite happened.
There are more EV models available than ever, yet Tesla’s demand is at an all-time high, which leads to long wait times to get a new vehicle.
It shifted the focus from demand to production. Now the race is to deploy as much EV production capacity as possible to meet that demand.
Last quarter, Tesla surprised with a big jump of 70,000 more electric vehicles produced compared to the previous quarter.
It showed the automaker’s impressive capacity to increase production, and the market rewarded the company with a more than 10% jump this morning.
This kind of jump in value is massive for a company already valued at over $1 trillion. It means that Tesla’s market capitalization increased by over $100 billion this morning.
Tesla’s stock is reaching close to its all-time high that it achieved after Hertz announced that it ordered 100,000 Model 3 vehicles.
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