Tesla going strong even in 2021 ๐Ÿ”Œ

Tesla going strong even in 2021 ๐Ÿ”Œ

Tesla managed to sell a record number of cars for the first three months of 2021, smashing all market expectations, despite a global shortage of semiconductor chips kneecapping the broad automobile industry. The cheaper Model 3 car particularly helped move the needle.

No room for error

Teslaโ€™s stock has run up so much that the company faces the huge task of delivering proportionate business outcomes that help the company grow into its valuation. For the full year of 2020 for example, the company had slightly missed its numbers of selling 500,000 cars, which landed a 25% blow to the stock.

But the global EV game has changed a lot since last year โ€” China EV market is on fire, global demand for EVs is at an all time high, coupled with Bidenโ€™s favorable clean tech policies, which makes analysts believe $TSLA will easily top 850,000 vehicle deliveries this year.