Tesla Inc.
TSLA -1.27%
annual automobile deliveries surged 87% in 2021, rising at their quickest tempo in years, as the corporate leveraged its Silicon Valley roots to beat computer-chip shortages which have plagued the worldwide auto trade.
Elon Musk’s
electric-vehicle maker stated Sunday that it delivered greater than 936,000 automobiles globally in 2021, up from practically half 1,000,000 the earlier yr. The corporate has been aiming to extend annual deliveries by a mean of fifty%.
Analysts surveyed by FactSet anticipated Tesla to place roughly 897,000 automobiles in buyer fingers final yr.
Tesla additionally stated it produced roughly 930,000 automobiles in 2021. Greater than half of these probably have been made in Shanghai,
Credit score Suisse
estimated lately, earlier than Tesla launched full-year manufacturing figures.
The corporate’s growth got here in a yr of tepid progress for the worldwide auto trade, which has been hit exhausting by supply-chain disruptions and is estimated to have bought 3% extra passenger automobiles final yr than in 2020 and 12% fewer than in 2019, in response to IHS Markit.
Tesla leaned on in-house software-engineering experience to maintain manufacturing strains working final yr, shortly rewriting the software program essential to combine different chips into its automobiles, Mr. Musk has stated. It additionally benefited from the supply-chain visibility and provider relationships that got here with being extra vertically built-in than many vehicle makers.
Tesla hasn’t been proof against supply-chain issues, nonetheless. The corporate has run factories under capability and, in February, briefly shut down its Fremont, Calif., plant due to elements shortages. It additionally delayed manufacturing of its all-electric pickup, dubbed the Cybertruck, and semitrailer truck. Mr. Musk has stated these automobiles at the moment are as a result of enter manufacturing on the finish of this yr and in 2023, respectively. He additionally stated he deliberate to supply an updated product road map on the corporate’s subsequent earnings name, anticipated in a number of weeks.
Tesla delivered roughly 308,600 automobiles within the ultimate three months of 2021, up from 180,667 a yr earlier and 241,391 within the third quarter of 2021.
Mannequin 3 sedans and Mannequin Y compact sport-utility automobiles made up most of Tesla’s annual deliveries, greater than doubling from a yr earlier. The corporate reported delivering a mixed 911,208 Mannequin 3s and Mannequin Ys final yr. Deliveries of the corporate’s higher-end fashions, the Mannequin S luxurious sedan and Mannequin X sport-utility automobile, totaled roughly 24,964, Tesla stated, down from roughly 57,000 in 2020. Tesla final yr launched a revamped model of its luxurious sedan known as the Mannequin S Plaid in a bid to reignite demand.
Analysts anticipate these outcomes to assist Tesla obtain document full-year revenue of round $5 billion on practically $52 billion of income, in response to FactSet.
Tesla’s efficiency additionally helped propel the corporate’s inventory. Tesla shares rose about 50% final yr, lifting the automobile maker’s market worth above $1 trillion. The inventory’s advance additionally has turned Mr. Musk into the world’s wealthiest particular person, with a complete web value round $270 billion, in response to the Bloomberg Billionaires Index.
The corporate in 2022 is aiming to leverage new factories in Germany and Texas to assist meet its progress goal.
“The train in gauging potential 2022 deliveries is considered one of gauging Tesla’s provide functionality,” Credit score Suisse analyst
Dan Levy
stated in a current notice, forecasting that the corporate would put roughly 1.3 million automobiles in buyer fingers this yr.
Write to Rebecca Elliott at rebecca.elliott@wsj.com
Copyright ©2021 Dow Jones & Firm, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
