In the first quarter of 2021, Tesla shipped 310,000 vehicles, jumping 68 percent from the previous year's same period
According to Wedbush Securities, Tesla's sales were somewhat below estimates, with the firm expecting to build 312,000 vehicles. However, the sales surge occurred despite Tesla's ongoing fight with a global scarcity of computer chips and other components.’
Automakers experienced a global Computer chip shortage.
Nearly all automakers have been afflicted by a global computer chip shortage, but Tesla appears to have fared better than the rest of the industry with amazing Tesla vehicle deliveries by quarter. During the year, Tesla experienced its own chip shortages, which it could overcome. The EV maker's performance was even the more astounding given the increasing competition from traditional automakers who are now providing more electric car variants. Despite the fact that there are numerous rivals in the electric vehicle field, Tesla continues to dominate market share, as proven once again this quarter despite the chip shortage.
Challenging quarter due to supply chain interruptions and China's zero Covid policy
Due to supply chain problems and China's zero-covid regulation. "Excellent effort by the Tesla team and key suppliers saved the day," Musk tweeted. Deliveries grew significantly from the previous quarter's 308,600 shipments and exceeded Tesla's first-quarter 184,800 shipments, marking a 68 percent year-over-year gain. Tesla built a total of 305,407 automobiles over its manufacturing run. Tesla shut down its Shanghai manufacturing for two days last month due to an increase in Covid-19 cases, and it halted it again last week while Shanghai remained under lockdown.
In the third quarter, the corporation made $1.62 billion, breaking the previous high of $1.14 billion established in the second quarter of this year. The profit was roughly five times more than Tesla's $331 million profit in the same period last year. Also, the average Tesla stocks forecast is $1395 per share.
Nearly all automakers have been perplexed by a global scarcity of computer chips, but Tesla appears to have managed it better than the rest of the industry. Due to supply and logistical challenges, Wedbush analysts think that 20,000-25,000 sales that would have happened in the first quarter have now been pushed into the second quarter.
Tesla Outranks the Competition
Although Ford, Rivian, and GMC are all battling to create electric trucks at a reasonable pace, they could all learn a thing or two from Tesla, which is now shattering production and delivery records. Due to supply chain concerns, most other automakers have reduced manufacturing capacity in recent year. According to the New York Times, Tesla performed better than its competitors during the global computer chip shortage because it was able to swap processors for its vehicles.
Tesla's Gigafactory Berlin-Brandenburg is the company's first production plant in Europe and its most sophisticated, sustainable, and efficient facility to date. According to plans, it will produce hundreds of thousands of Model Y vehicles and millions of battery cells this year.
The company also built a new factory in Germany Lately
Tesla's Gigafactory Berlin-Brandenburg is the company's first production plant in Europe and its most sophisticated, sustainable, and efficient facility to date. According to plans, it will produce hundreds of thousands of Model Y vehicles and millions of battery cells this year. According to the corporation, the $7 billion factories would eventually produce half a million SUVs every year. Mr. Musk took German Chancellor Olaf Scholz and other officials on a tour of the massive, low-slung $7 billion facilities near Berlin,, thus increasing Tesla market share. It was built in just over two years, a feat that astounded German officials and pundits.
Tesla has opened a facility in Berlin, Germany, called Giga. (Source)
Global scarcity of critical parts, especially computer chips, hampered the development of new automobiles. As a result, auto dealers were unable to fulfill demand due to a lack of supply, allowing them to charge a premium for the vehicles they did have.
Most other manufacturers have been forced to reduce output due to supply chain issues. Other automakers have not published worldwide sales as Tesla did, but the US sales data of businesses that reported Friday showed dramatic drops from a year ago.