Jefferies analyst Philippe Houchois reiterated a Buy rating and $1,400 Price Target on Tesla following strong delivery numbers. The analyst commented, “Tesla ended 2021 on a high, with deliveries of 308,600 vehicles in Q4, up 28%/71% vs Q3/year ago and beating consensus/JEFe by 16%/12%. Q4 took FY deliveries to 936k, +87% YoY.
With only 11.750 units delivered and 13,109 produced, S/X remained light due to capacity constraints. However, Models 3/Y over-compensated +134% yoy and annualizing Q4 production yields active capacity of 1.17m, o/w an estimated 650k in Shanghai.
Deliveries exceeded production for the second quarter running, supporting FY FCF. The volume beat supports upgrades to 2021 EBIT consensus $5.9bn (JEFe $6.4bn) and to 2022E volume consensus of 1.3-1.4 million units even factoring a slow ramp up in Berlin and Austin.”
The manufacturer delivered just shy of 309,000 new vehicles between October and November, about 43,000 more than Wall Street analysts had predicted.
Tesla produced about 30% more cars than it did in the preceding quarter, between July and September, which had been the company’s best on record. It was also 71% more than in the same period of 2020.
Tesla shares are trading +10 higher this early morning following above expectations results and many Price Target upgrades from the Analysts.
Latest News
Morgan Stanley Names Tesla’s Robotaxi Expansion ‘a Material Evolution’
Tesla began offering unsupervised Robotaxi rides in Dallas and Houston on Saturday, officially expanding the service to two more Texas cities after the initial release in Austin.
Musk Cites FSD Delay in China, Shanghai Output Limits in Rebuttal to Ford CEO
Musk pushed back on Sunday against comments from Ford’s CEO Jim Farley that framed BYD — not Tesla — as the primary competitive benchmark for the American auto industry.
Onvo Ships First Revamped L90 SUVS to Showrooms in China
Onvo announced on Sunday that the 2026 L90 has begun nationwide distribution, as the brand prepares to launch its first LiDAR-equipped model under Nio’s family-oriented sub-brand.
Nio Defends ES9 Hidden Door Handles After Compliance Concerns
Nio defended the hidden door handles on its new flagship model over the weekend, saying all models currently on sale comply with existing rules and will remain legal under the phased implementation of China’s new national safety standard.
Canada’s PM Says Auto Industry Among Three Hardest Hit by US Tariffs
Canada’s auto industry is among the three domestic sectors most affected by US tariffs under President Donald Trump, Prime Minister Mark Carney said in a nine-minute address released on his YouTube channel on Sunday.
Rivian-Volkswagen Joint Venture Hires VP of AI and Data
Rivian and Volkswagen Group Technologies, the up to $5.8 billion joint venture between Rivian and Volkswagen Group, has appointed Manasi Vartak as Vice President of AI and Data.
Something went wrong. Please refresh the page and/or try again.
