Tesla Inc. delivered 308,600 vehicles worldwide in the fourth quarter, smashing the previous record for the electric-car maker and setting a capstone on a year in which the company joined the exclusive $1 trillion market valuation club.

The better-than-expected results posted Sunday pushed Tesla’s total sales for the year to more than 936,000, up about 87% over 2020’s deliveries of just under a half-million vehicles. Thirteen analysts surveyed by Bloomberg on average had expected about 263,000 vehicles for the quarter, though some had revised their numbers upward in the final days of December.

The record quarter underscores the "green tidal wave taking hold” for Tesla and Chief Executive Officer Elon Musk heading into 2022, Daniel Ives, an analyst at Wedbush Securities, said in a note to clients. The strong results also point to robust demand in China and Tesla’s skill at navigating the global semiconductor shortage, he said. The company’s previous delivery record was 241,300, set in the third quarter.