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Tesla Smashed Fourth Quarter Vehicle Delivery Expectations
Electric vehicle maker Tesla delivered a record 308,600 vehicles in the fourth quarter of 2021, up 71% compared with the fourth quarter of 2020 and more than 12% better than Wall Street’s expectations despite a global chip shortage.
Deliveries for 2021 as a whole totaled more than 936,000, up about 87% compared with roughly 500,000 vehicles delivered in 2020.
Tesla produced most of the vehicles in the fourth quarter from its two primary assembly plants, in Fremont, Calif., and Shanghai. Tesla is firing up two more assembly plants in early 2022: In Austin, Texas, and near Berlin, Germany.
Wedbush analyst Dan Ives, who has a $1,400 target for Tesla’s stock, called the results a “trophy case quarter,” writing in a Sunday report that “with the chip shortage a major overhang on the auto space and logistical issues globally these delivery numbers were jaw dropping.”
Tesla’s stock gained 50% in 2021 compared with gains for the S&P 500 and Dow Jones Industrial Average of 27% and 19%, respectively. Tesla reports financial results later in January. Its stock has beaten the S&P 500 in seven of the past nine periods between its reported delivery results and earnings.
What’s Next: Wall Street projects deliveries of about 1.4 million for 2022, about 50% growth compared with 2021, a bet that demand for EVs stays strong. Tesla management has said their goal is to grow volumes at 50% a year on average for the foreseeable future.
Wedbush analyst Dan Ives wrote Saturday that Tesla's new facility in Austin, Texas, will begin production in about a week. That means more Model Y crossover vehicles and that the Cybertruck will be arriving on U.S. roads shortly.
Tanto ora crolla tutto, Percy, lo dicono gli astri ed altro (se lo fa bene, ne compro 10 e ne riparliamo tra qualche anno )
(che poi mi sento davvero un pezzente, ne ho una sola di azione, e già dire dieci mi sembra una cosa da ricconi, quando leggo che c'è chi ne trada cento pezzi alla volta ammetto di essere un pelino invidioso )
Tanto ora crolla tutto, Percy, lo dicono gli astri ed altro (se lo fa bene, ne compro 10 e ne riparliamo tra qualche anno )
(che poi mi sento davvero un pezzente, ne ho una sola di azione, e già dire dieci mi sembra una cosa da ricconi, quando leggo che c'è chi ne trada cento pezzi alla volta ammetto di essere un pelino invidioso )
Tesla’s Elon Musk Says Company Not Making New Models Tesla won’t be releasing new models this year and isn’t working on a $25,000 car right now, according to CEO Elon Musk, who blamed the continuing chip shortage. It will focus on driverless vehicle tech development and increasing production at existing factories.
The electric-vehicle maker will at some point return to working on the cheaper model, he said. “We have enough on our plate right now. Too much on our plate, frankly.”
The company reported earnings of $2.54 a share in the fourth quarter from $17.7 billion in sales. Operating profit came in at $2.6 billion and free cash flow at $2.8 billion. Wall Street expected earnings per share of $2.36 from revenue of $17.1 billion.
Trying to introduce new vehicles this year would interfere with trying to raise output, which Musk sees increasing by 50%. Tesla hasn’t delivered a new model in two years.
Tesla has been working on the “Cybertruck” pickup, revealed in 2019, and a semitrailer truck, revealed in 2017. The $25,000 car was meant to make electric vehicles available to a broader set of potential buyers.
What’s Next: Analysts expect Tesla to deliver nearly 1.5 million vehicles this year. As of the fourth quarter, it was making an annualized rate of more than 1.22 million vehicles.