Tesla Inc (NASDAQ:TSLA) stock fell 7.45% (As on Jan 27, 11:18:26 AM UTC-4, Source: Google Finance) after the company forecast vehicle deliveries would comfortably grow by more than 50% year-over-year in 2022 despite persistent supply chain issues that it expects to be alleviated only next year. Tesla expects to deliver more than 1.4 million vehicles this year. Tesla said the goal would be achievable even with current factories at Fremont, California, and Shanghai. Tesla said its Texas factory will this quarter deliver its first vehicles equipped with its next-generation 4680 batteries made in California as planned. Tesla, which produced a few cars at its Berlin and Texas factories last year, said scaling up production there would depend on supply chain headwinds and the successful introduction of new technologies. Tesla has fared better than most automakers in managing supply chain issues by using less scarce chips and quickly re-writing software. The automaker last quarter handed over a record number of vehicles to customers despite supply chain headwinds.  Tesla delivered a record 936,000 vehicles last year, nearly double the 2020 figure. Further, Musk was awarded $245 million in the fourth quarter because he reached some operational milestones in his compensation package.

TSLA in the fourth quarter of FY 21 has reported the adjusted earnings per share of $2.54, beating the analysts’ estimates for the adjusted earnings per share of $2.36. The company had reported the adjusted revenue of $17.72 billion in the fourth quarter of FY 21, beating the analysts’ estimates for revenue of $16.57 billion, according to IBES data from Refinitiv. Tesla’s $4.09 billion in adjusted earnings before interest, tax, depreciation and amortization (EBITDA) beat the consensus estimate of $3.89 billion, according to Refinitiv. Quarterly profits took a $340 million hit from payroll taxes related to Musk exercising options related to his 2012 compensation package. The profits also reflected rising raw material, commodity and logistics costs and expenses related to warranties and recalls. Tesla is recalling more than 475,000 of its Model 3 and Model S electric cars to address rearview camera and trunk issues that increase the risk of crashing.

Meanwhile, Tesla would not roll out new models this year but hopefully would launch its Cybertruck, Semi and Roadster next year. Tesla said it is not currently working on a $25,000 model that Musk promised in 2020 would launch in three years.