Thursday October 21, 2021
Record result achieved
A lack of chips does not slow down Tesla
While other automakers have to register short-time work due to a lack of chips, Tesla defied the disruptions in global supply chains in the third quarter. The group makes its third quarterly profit in a row and achieves a record result.
Despite the global shortage of chips, Tesla has exceeded the sales expectations of the experts. The e-car pioneer announced on Wednesday after the US market closed that sales were just under $ 13.8 billion in the third quarter. Analysts had predicted 13.6 billion, an increase of almost 55 percent over the same period last year. Profit rose 389 percent year over year to $ 1.6 billion. Investors reacted cautiously, however, in after-hours trading, the Tesla share initially fell slightly.
According to analysts, Tesla is more vertically integrated than other automakers, which is why the automaker has come through the chip crisis better than the competition. The US company continues to report that the expansion of the new factories is still on schedule. In Brandenburg, the tests of the machines are well advanced. It is expected that the final permit will be received by the end of the year.
Tesla announced a delivery record earlier this month. With 241,391 vehicles, the US group recorded an increase of 73 percent compared to the same quarter of the previous year. It was the sixth quarter of gains for Tesla. The e-car manufacturer recently asked its employees to perform at their best. Employees should make an effort to deal with production problems early in the third quarter.