Despite the computer chip shortage that has disrupted auto production around the world, the company delivered 936,000 cars in 2021, an 87 percent increase from the year before.
In the fourth quarter alone, the company delivered more than 308,000 vehicles, a 71 percent increase from a year earlier. The Model 3 sedan and the Model Y were the most popular vehicles.
The company does not break out its deliveries by country. Sales in Europe and China have been the driving force of its recent growth.
It was a momentous year for the company, which saw its stock and profits soar. In order to sustain its rapid growth, it has opened factories in Austin, Texas, and Berlin, Germany.
In October, the market value of the company exceeded $1 trillion for the first time, making it more valuable than many other companies.
On Friday, the stock price of the company closed at over $1 billion, up from $700 at the end of 2020. Sales and profits increased as the stock rose. In the third quarter, the company earned more than double its earnings from the previous year.
After taking a poll among his followers, Musk began selling large chunks of his stock, partly to cover taxes. He said several times that he was done selling.
Mr. Musk sold more than 16 billion shares of stock. The options were part of Mr. Musk's compensation and bonus packages.
The company hopes to increase deliveries by 50 percent a year for the next several years, and is counting on output from its Austin and Berlin factories to reach that goal. The Model Y is expected to be produced soon.
The quality of the product has not been uniform. The company told federal regulators on Thursday that it planned to recall more than 475,000 cars for two separate defects that could affect safety, one of which could cause the hood to open unexpectedly. Vehicles in China were recalled as well.
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The problem was caused by the Pandemic. The global supply chain is in turmoil. The outbreak of Covid-19 caused an economic downturn, mass layoffs and a halt to production. Here is what happened next.
A decrease in shipping. With fewer goods being made and fewer people with paychecks to spend at the start of the Pandemic, manufacturers and shipping companies assumed that demand would drop sharply. Demand for some items would surge as a result of that mistake.
There was a spike in demand for protective gear. In early 2020 the planet needed surgical masks and gowns. Most of the goods were made in China. Cargo vessels began delivering gear around the globe as Chinese factories increased production.
There was a shipping container shortage. The containers were emptied and piled up around the world. The shortage of containers in China was caused by the result of a shortage in other countries.
The demand for durable goods increased. The spending shifted from eating out to online purchases as a result of the Pandemic.
Strained supply chains. Factory goods quickly overwhelmed U.S. ports. The cost of shipping a container from Shanghai to Los Angeles went up tenfold because of swelling orders.
The company and its autopilot driver-assistance system have come under closer scrutiny by safety regulators in the United States. There have been crashes with other vehicles in which the autopilot system has been engaged.
The company still promotes its autopilot system, which can take over some of the steering, braking and acceleration tasks from drivers, and a more advanced set of features, Full Self Driving, that it offers for $10,000 but has so far allowed only a select group of customers to test.
The National Highway Traffic Safety Administration opened a formal investigation into how autopilot recognizes objects on the road. It is looking into 11 instances when emergency vehicles had their lights on and were hit by a car.
The agency is looking at more than two dozen other crashes involving the same car. The first eight crashes resulted in 10 deaths.
