Tesla delivered record-shattering 310,048 electric vehicles from January through March, up from 185,000 cars during the same period in 2021.
Tesla beat expectations, which was at around 309,000 according to the Q1 2022 production and delivery report. The global deliveries are of the Model Y, Model 3, Model S and Model X combined.
Additionally, this has also become Tesla’s all-time record for deliveries by beating the previous high mark of 308,600 in the fourth quart of 2021.
|Production||Deliveries||Subject to operating lease accounting|
The jump of nearly 70 percent in deliveries was in contrast with major carmakers like General Motors and Toyota, which reported big declines in sales.
The quarter has been deemed *exceptionally* difficult quarter by Elon Musk in his recent tweet.
This was an *exceptionally* difficult quarter due to supply chain interruptions & China zero Covid policy.— Elon Musk (@elonmusk) April 2, 2022
Outstanding work by Tesla team & key suppliers saved the day.
Tesla adds $84 billion to valuation on stock-split signal
After the electric vehicle maker announced plans for its second stock split in about two years, Tesla’s stock market value increased by roughly $84 billion on Monday, more than Ford Motor Company’s entire market capitalization.
Tesla has a market capitalization of $1.128 trillion as of March 2022. Tesla is the world’s 6th most valuable corporation by market capitalization. Market capitalization, also known as market cap, is the total market value of a publicly-traded business’s outstanding shares. It is a standard metric for determining the value of the company.
Large-company stock splits have resurfaced recently, with Amazon announcing a 20-for-1 stock split earlier this month, followed by Alphabet’s own plan revealed in February, as both businesses aim to make their stratospheric stocks more appealing to ordinary investors.
Tesla’s recent stock increase was aided by the news, which was made public via a tweet. The company has been the top gainer on the NYSE FANG+ Index this year. On Monday, the stock climbed 8% to $1,091.84, its highest level since January 12. That year, its stock price climbed by 743 percent, and the split was widely credited as one of the factors fueling the gains.
Stock splits multiply one’s shares and divide the share price, rather than changing the value of one’s stock ownership. This is a marketing strategy intended to make a company’s stock more appealing to retail investors who are hesitant to buy fractional shares of stock—but research indicates it works.
When illustrated by recent proposals from Alphabet, Amazon, and Tesla, stock splits can drive significant rallies as retail traders pile in. As a result of the splits, day traders are flocking to these companies, driving stock prices upward.