A Tesla compressor is shown at a charging station in Santa Clarita, California, the United States, October 2, 2019. REUTERS / Mike Blake

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Jan. 3 (Reuters) – Shares of Tesla Inc (TSLA.O) started the year with remarkable gains after the electric automaker announced record fourth quarter deliveries, allaying fears of chain issues. supply that hit the automakers.

Shares of the world’s most valuable automaker ended 13.5% at $ 1,199.78 each on Monday, marking the biggest daily percentage gain in nearly 10 months.

Analysts expect the high delivery figures to bolster expectations in 2022 and see the pace of expansion of its new factories in Berlin and Texas as a determining factor.

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“We expect Berlin and Austin to ramp up gradually and expect these ramps to decelerate exports from Shanghai, many of which are destined for Europe in 2021,” said Jeffrey Osborne, Cowen analyst.

The company, like others, is facing component shortages due to a global logistics crisis and factory closures due to limited supply from the pandemic. But Tesla managed to overcome much of the problems by reprogramming the software to use less rare chips.

Tesla delivered 308,600 vehicles in the fourth quarter, more than analysts’ forecast of 263,026 vehicles, which includes its Model 3 compact cars and Model Y sport utility vehicles and flagship Model S and Model X vehicles, the Model S and Model X flagship vehicles reported on Sunday. company. Read more

RBC Capital Markets revised its quarterly revenue estimates, increasing them by $ 2.3 billion. JP Morgan has increased its profit estimates.

Still, analysts have said Tesla has a lot to watch out for in 2022 as competition intensifies with several electric vehicle startups expected to launch their first cars on the road. Traditional automakers such as Ford (FN) and General Motors (GM.N) are also focusing on electric cars.

“We see 2022 to be a more difficult year than 2021 in light of increasing competition, and we believe the design of the four vehicles on the road is getting long in the tooth, which is likely slowing growth,” Osborne said.

Some analysts have also said Tesla’s stock is overvalued, given its relatively lower production volume. Tesla, which produced some 930,000 vehicles last year, is worth about four times as much as Toyota Motor (7203.T) which aims to produce 9 million vehicles in the year ending March.

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Reporting by Nivedita Balu and Aniruddha Ghosh in Bengaluru; Additional reporting by Hyunjoo Jin in San Francisco; Editing by Maju Samuel and Chris Reese

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