Saturday, October 2nd, 2021
Despite the semiconductor crisis
Tesla is delivering more cars than expected
The omens are anything but good. The corona pandemic is causing bottlenecks in the storage chips that are so important for electric cars. Tesla is extremely unimpressed by this. The e-car manufacturer brings significantly more vehicles to its customers than in the previous year.
The electric car manufacturer Tesla defied the global trend and increased its deliveries in the third quarter more than expected. The group handed over 241,300 vehicles to its customers in the three months, after 139,593 in the same period of the previous year. Analysts had only expected 229,242.
The e-car manufacturer had recently driven its employees to peak performance. Employees should make an effort to deal with production problems early in the third quarter. Like the entire automotive industry, Tesla has felt the bottlenecks in memory chips. The industry is currently particularly suffering from the fact that factories in Malaysia and Thailand had to close in the fight against the corona pandemic.
Most of the car manufacturers had to cope with declines in sales, some of them significant, in the third quarter. However, Tesla achieved the said growth, although the global supply chains are currently disrupted due to the shortage of semiconductors. Against the background of the current figures, CEO Elon Musk’s group should clearly achieve its annual target of exceeding last year’s deliveries of almost half a million cars by 50 percent. In the first nine months, Tesla had around 627,000 cars.
Analysts expect Tesla to post a profit of around $ 1.1 billion for the third quarter, with sales of more than $ 13 billion. In the same period the group had a profit of 331 million dollars on revenues of 8.8 billion dollars.