Tesla was able to deliver 900,000 cars in 2021
Tesla Shares (NASDAQ: TSLA) rose 7% on Monday as news came out that the electric car manufacturer had exceeded production and delivery numbers expectations.
At the end of last week, Tesla confirmed it had delivered and produced 184,800 and 180,338 cars in the first quarter of 2021, respectively. According to data collected by FactSet, analysts’ expectations were period, which was around 168,000 units.
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This was a record quarter, exceeding the 180,570 delivery that was completed in the first quarter of 2020.
Over the weekend, Wedbush analyst Daniel Ives upgraded Tesla stock to outperform, increasing its 12-month price target from $950 to $1,000.
“In our opinion, the 1Q delivery number released on Friday is a paradigm changer, with global demand for Tesla’s Model 3/Y reaching the next stage of growth as part of the global green tide wave. It shows that there is.”
“We believe Tesla could surpass 850k delivery with a 900K stretch goal over a year, despite the chip shortage and various supply chain issues remaining throughout the automotive sector. Masu.”
The February submission revealed that China’s Tesla SAE more than doubled last year amid the coronavirus pandemic.
The electric car manufacturer in China has sold $6.666 billion, roughly one-fifth of the company’s $31.54 billion revenue.
Tesla stocks have fallen 5% since the turn of the year, as they had so far had a tough 2021 year.
