SAN FRANCISCO (Reuters). Tesla Inc. on Wednesday said that supply chain issues will continue throughout this year. After posting record quarterly revenue, which beat Wall Street forecasts, the company posted record quarterly sales.

After-hours trading saw the stock fall 2.7%

The fourth-quarter revenue grew to $17.72billion, up from $10.74billion a year prior. According to IBES data by Refinitiv, analysts had predicted that the electric-vehicle manufacturer would report revenue of $16.57 trillion.

In spite of supply chain challenges, the most important automaker in the world sold an unprecedented number of vehicles last quarter to its customers.

Tesla (NASDAQ) stated in a statement that “our own factories have been running at capacity for many quarters due to supply chain becoming the primary limiting factor. This trend is expected to continue into 2022.”

Tesla stated Wednesday that Model Y was being produced in Austin at the end of last year. However, it did not specify when deliveries would begin.

The company stated that it intends to produce more than 600,000 cars per annum from its California facility.

Tesla did a better job than many automakers managing their supply chains by using less rare chips and rapidly rewriting software.

Tesla is facing challenges in scaling up production at 2 new plants this year, with technological changes and battery constraints clouding the outlook.

There is increasing competition for the company from its rivals, who will launch an assortment of electric vehicles, from affordable models to pickup-sized electric cars.