Tesla announces 87% increase in deliveries in 2021

Tesla reported on Sunday that he delivered 936,000 cars in 2021 , an increase of 87% over the previous year, despite the shortage of com...

Tesla reported on Sunday that he delivered 936,000 cars in 2021, an increase of 87% over the previous year, despite the shortage of computer chips that disrupted automotive production around the world.

In the fourth quarter alone, the company delivered more than 308,000 vehicles, an increase of 71% from the previous year’s quarter. The overwhelming share of deliveries was for the Model 3 sedan and the Model Y hatchback. Wall Street analysts expected deliveries of about 266,000 cars in the fourth quarter and about 855,000 for the year.

“It’s hard to dig into the numbers,” wrote Daniel Ives, analyst at Wedbush Securities, in a note to investors. “While there are many competitors in the electric vehicle arena, Tesla continues to dominate the market share, as evidenced again this quarter. “

Tesla increased sales despite a global shortage of computer chips, which serve as the brains of a variety of electronics, including motor controllers and touch screens. The shortage has forced most automakers to idle some factories for weeks and prevented them from producing as many vehicles as they expected.

In July, Tesla chief executive Elon Musk said his company was overcoming the shortage by switching to more readily available chip types and writing new instructions, or firmware, to be put into the chip. Tesla can make such a change because the components in its cars are designed to be controlled largely by software.

Tesla does not break down its deliveries by country. Much of its recent growth has been driven by sales in Europe and China.

The jump in shipments capped a momentous year in which Tesla’s share price and earnings soared. She has also worked on opening factories near Austin, Texas, as well as Berlin, in hopes of maintaining rapid growth.

In October, Tesla’s market value topped $ 1 trillion for the first time, making it more valuable than General Motors, Ford Motor, Toyota, Volkswagen, Stellantis, BMW and several other automakers combined.

Tesla’s stock on Friday closed at $ 1,056.78, down from just under $ 700 at the end of 2020. The stock’s rise was fueled by increased sales and profits. In the third trimester, the company made $ 1.6 billion, more than double its income for the whole of 2020, its first profitable year.

With stocks at dizzying heights, Mr. Musk started selling large chunks of his stocks, partly to cover taxes, after having conducted a survey of its followers on Twitter. Several times he said he was done selling, but continued.

In total, Mr. Musk sold over $ 16 billion in Tesla shares. The transactions involved the exercise of 22.8 million options granted to Mr. Musk as part of his compensation and bonuses.

Tesla said it expects deliveries to increase by about 50% per year over the next several years, and is counting on output from its factories in Austin and Berlin to meet its target. Both factories are expected to start producing Model Y hatchbacks soon.

At the same time, the quality of Tesla products has remained uneven. The company told federal regulators on Thursday that it planned to recall more than 475,000 cars for two separate faults that could affect safety – a misaligned latch on the front cover, which could allow the cover to open unexpectedly, and the rear view camera wiring that can be damaged when opening and closing the chest. A day later, vehicles in China were also recalled.

Additionally, the company and its Autopilot driver assistance system have come under increased scrutiny from safety regulators in the United States. The Tesla’s have been involved in a series of crashes with other vehicles, some of which have resulted in fatalities, while the autopilot system was activated.

The company continues to promote its Autopilot system, which can take over some of the steering, braking and accelerating tasks of drivers, and a more advanced feature set, Full Self Driving, which it offers for $ 10,000 but has so far only enabled only to a select group of customers to test.

In August, the National Highway Traffic Safety Administration has opened a formal investigation on how Autopilot recognizes objects on the road. It specifically examines 11 instances where Teslas crashed into emergency vehicles that had stopped on freeways and whose lights were flashing.

The agency is also looking at more than two dozen other crashes involving Tesla that were under autopilot control. Eight of these crashes have killed a total of 10 since the first in 2016.

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Newsrust - US Top News: Tesla announces 87% increase in deliveries in 2021
Tesla announces 87% increase in deliveries in 2021
Newsrust - US Top News
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